While the latest figures, released this morning, indicate a record 32.9m people in work for the three months to November, the unemployment rate was barely changed at 3.8% and the number of estimated job vacancies fell to 805,000, down 11,000 on the previous quarter and 49,000 fewer than the corresponding period of the previous year.

Commenting on the findings, Recruitment & Employment Confederation CEO Neil Carberry said there are two sides to today’s labour market statistics. 

“On one hand it’s great news that the UK labour market has remained so steady in the face of uncertainty, and the economy continues to keep record numbers of people in work. On the other hand, however, businesses want to grow but are struggling to find the right people in such tight conditions. Employers in construction, education and social care – three sectors that are at the core of our prosperity – need workers at all skill levels.
 
“We need an immigration system that is controlled and works for the whole economy … It would be a big win for the government to introduce a temporary immigration route to meet the needs of the economy for some workers at lower pay and skill levels. This will help businesses succeed post-Brexit and support the jobs and growth here in the UK.”

Meanwhile Pawel Adrjan, UK economist at the global job site Indeed, said for all the UK job market’s resilience in the face of an economic slowdown, its jobs creation miracle is running out of road. 

“While the total number of vacancies rebounded slightly in the final quarter of 2019, it’s down nearly 50,000 on the same time in 2018 as employer demand stays fragile. There are still over 800,000 vacancies, which is good news for jobseekers. But as competition between employers for recruits softens, so too does the pressure on them to pay more to attract candidates.

“The labour market’s stoicism in the face of wider economic weakness is impressive. We will wait to see if the first months of 2020 enable this trend continue, with the government’s pledge to increase spending on infrastructure, NHS and police recruitment fire more job creation.”

But Lee Biggins, founder and CEO of CV-Library, said with the political uncertainty surrounding the December general election now behind us, the UK jobs market is showing subtle signs of strength as the country approaches the Brexit deadline.

“The fact that the economic inactivity rate reached a record low is particularly promising, suggesting that the turbulent political landscape in the final few months of the year didn’t impact the job market too severely. However, with fewer vacancies on offer and pay growth in decline, it’s clear that businesses were still apprehensive about investing in their hiring plans.

“While it’s tricky to predict how the market will react if and when we leave the EU, employers should have faith in their hiring strategies and make the most of candidate confidence while it lasts!”

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