Labour market data from the Office for National Statistics (ONS) shows a sharp fall in overall UK job vacancies due to the pandemic. As a whole, vacancies fell by 55.1% (y-y) during the past quarter. This stat doesn’t reflect every sector, with performance differing across industries and job roles.
Using real-time data captured over the past three months, we’ve mapped some of our most popular sectors - automation, infrastructure and cyber security - to see how they have weathered the crisis. There is no spin or sugar-coating; our reports present an open picture of the labour market data across these sectors.
Whilst there has been a decline in vacancies across the automation, infrastructure and cyber markets (from -21% to -25%), they have fallen by less than half the average national rate.
Salaries too, have dropped in line with reduced demand, however this is most apparent in London. Salaries outside of the capital - such as the South West, North East and Midlands remained steadier. More skills-short sectors like cyber security reported only minimal salary reductions - -1.4% - compared with a national average of -2.4% across the private sector in the previous quarter (ONS).
Demand from candidates has increased, with more talent entering the market. Search queries for jobs in our sectors have risen by up to +170% (Google Trends), along with courses and apprenticeships, reflecting candidates’ desires to grow their skills. According to LinkedIn’s Workforce Confidence Index, over half of respondents wished to grow their skills base in emotional intelligence, resilience, and better impact societal change. In tandem with searches for jobs and courses increasing, sustainability, artificial intelligence, ethics, renewable energy and cyber threat intelligence were breakout topics.
There are signs of recovery too, with all the top hirers of this industry talent actively recruiting for experienced professionals. Additionally, the most recent REC JobsOutlook survey reported that along with the total number of job adverts steadily starting to increase, the temporary jobs market is rebounding, with skills-short niches including cyber security, data science, BI and surveying continuing to be in demand.
The reports further highlight the importance of providing a great candidate experience, despite the influx of applications, and of using tools and partners to achieve this. Now is not the time to put employer brands on the back-burner.
View the full reports here: