Skip navigation

Gloucestershire Business News

More than a million job vacancies for first time

The number of job vacancies has topped a million for the first time, as the economy recovers from Covid restrictions.

According to new data from the Office for National Statistics, growth in the single month vacancy estimates and Adzuna online job adverts show vacancies surpassed their pre-Covid levels in July 2021, with the single-month vacancy estimates now exceeding 1,000,000.

The figures are backed up by businesses, particularly in the hospitality and retail sectors, who have reported difficulty in recruiting staff as the economy opened up after lockdown.

The ONS says the number of payroll employees showed another monthly increase, up 182,000 to 28.9 million in July 2021. But this is still 201,000 below pre-COVID pandemic levels.

In the latest period (April to June 2021), there was a quarterly increase in the employment rate of 0.3 percentage points, to 75.1%, and a decrease in the unemployment rate of 0.2 percentage points, to 4.7%. The economic inactivity rate is also down 0.2 percentage points on the previous quarter, to 21.1%.

With the relaxation of many Covid restrictions, total hours worked increased on the quarter, however, it is still below pre-Covid levels. The redundancy rate decreased on the quarter and has returned to levels seen before the crisis hit.

There were an estimated 953,000 job vacancies in the three month period from May to July 2021, a record high, having grown by 290,000 compared with the previous quarter and 168,000 more than its pre-Covid level (January to March 2020).

Growth in average total pay (including bonuses) was 8.8% and regular pay (excluding bonuses) was 7.4% in April to June 2021.

There has been a fall in the number and proportion of lower-paid employee jobs so increasing average earnings.

Related Articles

Gloucester insurance broker set for growth following MBO Image

Gloucester insurance broker set for growth following MBO

Investment by JMG group has facilitated a management buyout at Gloucester-based Brunsdon Insurance by North West insurance broker, Butterworth Spengler, for an undisclosed sum.

Consultation launched for 376,000 sq ft expansion of Gloucestershire business park Image

Consultation launched for 376,000 sq ft expansion of Gloucestershire business park

Developers heading up the expansion of Brockeridge Business Park at Junction 1 of the M50 are launching a public consultation for the project.

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Tuesday, September 21 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Tuesday, September 21

The ongoing coronavirus situation is constantly changing with announcements being made about businesses and services.

Cheltenham pursues climate ambition and improved accessibility for taxis Image

Cheltenham pursues climate ambition and improved accessibility for taxis

Cheltenham Borough Council pledged today (September 21) to bring its wheelchair accessible vehicle policy for taxis in line with its 2030 climate ambition.

Copyright 2021 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.