East Midlands Business Outlook 2020
Our MD, Danielle Asano, last week shared her insight into the impact of Covid-19 on the jobs market in an interview with BBC East Midlands Today. We wanted to share further information on the topic as the segment aired was a mere snap shot.
Whilst the overall picture may be bleak, we are keen to share with you the many positives we are experiencing in the market at the moment. Even though vacancies have fallen by more than 60%, compared to 2019 figures, new roles have risen month on month since lockdown and we are hoping, of course, that we continue on an upward trajectory.
A report conducted by CV-Library revealed the significant drop in vacancies year-on-year was experienced in all areas of the UK. It found key professions such as Administration (down 86.6%), Customer Service (down 77.5%) and Recruitment (down 82.3%) saw the biggest fall in job adverts during this period.
However, there was a rise in applications within the public sector (up 179.3%) and medical; (up 27.7%). There has been a substantial increase in the average application to job ratio which rose 84% quarter-on-quarter across the UK, with Leicester seeing one of the largest increases of 117.1%.
Founder and CEO of CV-Library, Lee Biggins said “While applications dropped overall, there were less jobs being advertised and that means there’s a lot more competition for the roles that are available. In addition to this, while the furlough scheme has been a life support to hundreds of thousands of businesses, it does also mean that the national employment rate is possibly higher than it should be right now.
“As a result, we expect to see applications pick up in the coming months, as more people are forced to look for new jobs. With the government now encouraging businesses to return to the workplace, it will be interesting to see if this has a further impact on the UK job market going forward.”
We too are seeing an influx of experienced and skilled candidates who have sadly been made redundant as a result of the pandemic and others who fear their roles may be at risk. With that in mind, we wanted to share useful advice for candidates active on the market at the moment:
- Take the time to analyse your CV and identify any skills gaps you see
- Work on yourself! There are lots of reading materials and free courses available to upskill yourself whilst on furlough or looking for work
- Write an engaging CV i.e. a sales document who’s sole focus is to get you an interview
- Partner with reputable agencies that specialise in your area of expertise.
An insight into the REC Market Report from July
An insight into Sage's Report on the impact of COVID-19 on SME's