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UK jobs market data Dec 22

ended 16. January 2023

The latest UK (un)employment data is being published by the Office for National Statistics on Tuesday at 07:00. If you're a recruiter, HR or jobs expert and would like the chance to see your views in the local, national and trade media, please answer any or all of the following Qs:

  • Are employers confident right now about hiring or are they battening down the hatches?
  • Who holds all the cards right now? Employers or candidates/employees?
  • Are employees proactively asking for pay rises to keep up with inflation? After all, wages are being pummelled in real terms as inflation is at 11.1%.
  • Are companies, many of which are under pressure for no end of reasons, struggling to offer pay rises?
  • Do you think unemployment is going to rise during 2023? If so, by how much? 
  • Are employees still demanding flexibility or are they increasingly happy to have a job as inflation and interest rates soar?

Any other thoughts or insights on the jobs market, jot them down. Note there is a word limit now of 175 words.

6 responses from the Newspage community

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Sam Alsop-Hall
Chief Strategy Officer at Clive Henry Group
It's a tough time for employers, but hiring is still happening. Companies that are proactively seeking to expand their workforce will have the upper hand in the current job market. The economy is in a recession in all but name, and it's clear that unemployment rates will rise. But savvy employers who are willing to take a risk and invest in their workforce will be the ones who come out on top. Now is the time for employers to seize the opportunity and build a strong workforce for the future. Those who hesitate will be left behind. The UK job market is in a state of flux, but those who can navigate it will come out victorious. The future belongs to the bold and the brave.
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Lily Shippen
Managing Director at Lily Shippen
The balance of power has shifted to employers. Candidates still have options, and there are fewer job-seekers than jobs, but companies are not as flexible as they were a few months ago, and there is less flexibility on offer in many cases. Companies are still hiring but are more measured in their approach and less willing to compromise on experience.
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Natasha Maddock
Co-Founder at Events Made Simple
As the UK jobs market shifts, the mad rush to recruit from 2022 seems to have settled down. In the midst of economic uncertainty and rising inflation, many businesses have implemented hiring freezes or added steps to recruitment processes resulting in fewer new roles being advertised than previously. With hiring decisions becoming more considered, many companies are switching focus to employee engagement and staff retention. But this doesn't mean the hunt for top talent has come to a halt. There are still sectors looking to onboard new staff as well as candidates on the search for something new. Companies that can offer a fair salary and genuine flexibility in the workplace are in a prime position to attract the best candidates, especially those seeking a better work-life balance.
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Louise Burns
Company Director at Nineteen Recruitment
While there is still a definite shortage of candidates in some industries, generally the balance is starting to tip back in favour of employers. What candidates are looking for in job offers also seems to be changing. Where they were recently looking for increased flexibility, benefits and high salaries, their priority is now stability. That's the impact of inflation on sentiment. Employers able to navigate through these challenging times will be holding all the cards for the foreseeable.
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Lauren Thomas
Economist at Glassdoor
This report has set the tone for the turbulent economic year ahead: high economic inactivity and low but rising redundancies are two of the many mixed signals the labour market is giving off. The large numbers of workers who left the job market since Covid show few signs of returning, with the possible exception of early retirees aged 50-64. This group could re-enter the labour market as they face a once-in-a-generation cost of living crisis without the comfort of an inflation-adjusted state pension. Recent mass layoffs in tech sparked concern but it’s unclear how much they’ll impact the UK-specific redundancy rate given their global scope. Regardless, Glassdoor data shows tech employees are increasingly nervous about the future. Negative business outlook for their employers is 76% higher than at the start of the pandemic.
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Katie Elliott
Director at HR Katie
After the candidate-driven market of the past two to three years, things are definitely swinging back more in favour of employers. HR is likely to be under more pressure this year, as both employers and employees will be feeling the squeeze on salaries. It's going to be a key time for companies to really focus on employee wellness, as people trust their employer far more than the government. Better education around finances and spending, promoting flexibility around caring arrangements and mental health support across all sectors are likely to be welcomed as lower cost alternatives to blanket pay increases.