Brexit. A general election at Christmas. And no guarantee of any quick resolution – whatever the results.
It is perhaps no surprise, then, that Britain’s ongoing political uncertainties have affected the nation’s hiring intentions.
The country goes to the polls today (Dec 12). But, in the days before the ballot boxes opened, two separate reports found a sharp fall in hiring intentions.
The first, published by the Recruitment and Employment Confederation (REC) and accountants KPMG saw demand for staff drop to its lowest level in more than ten years, this November.
A second investigation by job board CV Library confirmed the trend. The CV Library data found that new job listings for November fell 13 per cent month-on-month. Vacancies were also down 1.7 per cent compared to one year previously.
CV-Library CEO Lee Biggins said that “companies have no choice but to hold back on hiring new talent”. He added “the industries with the largest drop in job advertisements are those that will be directly impacted by Brexit.” However, the job board founder also pointed out the seasonal nature of the jobs market, adding that a slowdown “isn’t unusual at this time of year.”
“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.”
“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 when the dust has settled after the general election and when many candidates will be looking for a change after the Christmas period.”
Regional factors also played a part. Job creation in Glasgow fell 18 per cent. Listings for positions in Wales fell by an astonishing 21 per cent.
Meanwhile, there is evidence to suggest the slowdown is affecting all areas of the jobs market. Applications in November dropped 12 per cent.