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Job Vacancies Suffer Steep Fall In December

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http://www.independent.co.uk/news/business/news/job-vacancies-suffer-steep-fall-in-december-2174789.html

At the start of what will almost certainly be a year of rising unemployment, the number of job vacancies is falling back "steeply", according to one of the country's leading recruitment agencies.

The warning, from Reed, comes as the respected Chartered Institute for Personnel and Development predicts unemployment would reach 2.7million in 2011 – a 17-year high. Last month, the headline total went back above the 2.5 million mark, and youth unemployment is close to 1 million.

As many economists begin to doubt whether the private sector will be able to generate the volume and quality of jobs to compensate for the 330,000 to be lost in the public sector over the next few years, the research from Reed reveals that "job opportunities across the country fell steeply last month... The recent surge in demand from private sector employers reversed down."

Despite the weakness, however, the situation is still marginally better than in the depths of the recession a year ago. Reed says that employer demand for new staff is up 4 per cent compared with December 2009. The recruiter pegged the rise on "increased demand from the private sector... as new public sector jobs continue to fall to less than half their level of a year ago".

Salaries for new jobs are also edging up, though they have failed to keep up with inflation and are now nearly back to their level of 12 months ago.

However, the Reed figures also echo anecdotal evidence from surveys of employers which, even with one in 12 of the workforce out of a job, suggest that skills shortages are holding back expansion in many firms.

If we only had built a skills based economy instead of a micky mouse degree based one economy.

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Trouble is, re. skills shortages, the story goes on:

"Reed identified consultancy, retail, banking, charity and administration job sectors as suffering from an excess of demand over supply."

Retail? Administration?

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Trouble is, re. skills shortages, the story goes on:

"Reed identified consultancy, retail, banking, charity and administration job sectors as suffering from an excess of demand over supply."

Retail? Administration?

That'll be the demand for someone that they don't need to spend any time or money training and has already got years of work experience in the relevant field then. i.e. not NMW/entry level work.

I note that the article cites youth unemployment at around 1 million (19.8% for 16-24 year olds), however, that hides something else. The Labour Force Survey the unemployment rate for 16-17 year olds 35%. That figure hovered around 20% since 1992 when the figures started until 2005ish when it started climbing and since mid 2008 has risen 10%.

Edited by rented

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Trouble is, re. skills shortages, the story goes on:

"Reed identified consultancy, retail, banking, charity and administration job sectors as suffering from an excess of demand over supply."

Retail? Administration?

Do we really have a shortage of consultants.

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I'm not sure how the charity sector comes in for excess demand. Sure, a lot of people want to work in an environment where they are ultimately helping others rather than making money for others. However, working in this sector, I can tell you we lose A LOT of applicants as soon as they discover the salaries (or lack of) on offer.

Many charities that have been based in London for a while now target their recruiting at second income earners, since they know the money they are offering will not be enough for the main breadwinner. I recently saw a vacancy with another NGO that matched my skills. It would have been a good move in terms of opportunities, but they were offering 23K for central London. No chance.

Edited by rantnrave

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Do we really have a shortage of consultants.

Bit of a general question.

I can confirm that certain very specific IT skills are easily commanding £300-450 a day - that's the money the consultant sees after the Agency/Consultancy cut.

All down to the ludicrous 20 year policy of not training any new IT staff in Britain's corporations combined with the gradual hemorrhaging of established IT'ers into general management, and recently, retirement and restrictions on ICTs.

I'm benefiting from this personally but still think UK plc has been really, really stupid.

Nothing new there I suppose.

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If we only had built a skills based economy instead of a micky mouse degree based one economy.

Is that seasonally adjusted?

Having been made redundant end-November, I had no expectations of finding work in December. Much more likely in the new year when companies have their minds on work again.

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      • down 5% +
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      • up 5%



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