We have recently been featured in the HR Magazine regarding what potential impact the impending 2022 recession may have on the UK job market. At the forefront of many articles recently the impending recession is just the latest in a series of challenging events that we have seen over what has been an undoubtedly challenging few years with the pandemic, the cost-of-living crisis and The Great Resignation it feels every week is resulting in a different challenge to the UK job market and wider economy.
NS labour market data this week showed that open vacancies were dropping at a rate not seen since 2020 with the employment rate hitting 3.6%, the lowest percentage since 1974. Experts have warned this might mean the post-lockdown jobs boom is coming to an end.
Johnny Coulter, CEO of recruitment specialists Troi, said these patterns are being born out in current recruitment activity.
He told HR magazine: “Consumer-led businesses have initially been hit hardest and we have seen this through our own client base, with 80% of any client slowdown in the last six months sitting in the B2C sector.
“Additionally, many investors in the tech sector are shifting to profit over growth. Therefore, we are seeing a reduction in the need for sales, marketing, and GTM functions within scale-ups as they focus on getting their products ready for market.”
You can read the full article in the HR Magazine here: HR Magazine – The jobs most likely to bear the brunt of a 2022 recession