As the UK gears up for its fourth general election since 2010, increased economic uncertainty has led to a significant drop in job advertisements across the nation. In fact, according to data from the UK’s leading job board, CV-Library, the number of advertisements fell by 13% month-on-month and a further 1.7% year-on-year.
The findings, which explore job market data from November 2019 and compare this with the previous month and the same period in 2018, also reveal that the industries which saw the biggest drop in job adverts include retail (down 27.2%), automotive (down 20.1%) and distribution (down 20.1%).
What’s more, when looking at data for key locations, the largest reduction in job adverts could be found in Cardiff (down 20.9%), Nottingham (down 18.5%) and Glasgow (down 18.2%), suggesting that this is a national trend and isn’t limited to a single pocket within the UK.
Lee Biggins, CEO and founder of CV-Library, comments:
“It’s no surprise that the industries with the largest drop in job advertisements are those that will be directly impacted by Brexit. In the face of such extraordinary political uncertainty, companies have no choice but to hold back on hiring new talent and this isn’t unusual at this time of year.
“With the UK set to make a monumental decision in less than a fortnight and the fate of Brexit hanging in the balance, many organisations will be waiting for the dust to settle before moving forward with their hiring campaigns. But as we approach a typically busier period for recruitment, we hope to gain some clarity on how we will navigate through these tumultuous times.”
Interestingly, it isn’t just employers putting on the brakes this month. In fact, job applications also fell by 11.8% month-on-month, with key sectors witnessing even bigger drops, including: marketing (down 22.3%), education (down 17.9%) and automotive (down 16.6%).
Furthermore, it appears that candidates in Scotland and Wales were the most reluctant to apply for new jobs. The data found that cities such as Perth (down 25.1%), Cardiff (down 18.8%) and Aberdeen (down 18%) experienced the largest drop in job applications month-on-month.
Lee Biggins continues:
“It’s important to remember that while these numbers are certainly exacerbated by the current political climate, this time of year is usually quieter for recruitment across the board. Because of this, it’s a good time to take stock of where your company is currently at and start thinking about your future hiring needs. In doing so, you’ll ensure that you’re ready to recruit when the dust has settled after the general election and when many candidates will be looking for a change after the Christmas period.”