ONS revealed more new companies set up in beginning of August

Company incorporations per working day for the first week of August were higher than those from the Q3 2019 average.

And the number of job adverts increased from 53% to 62% of its 2019 average, according to Office of National Statistics released today (13 August 2020).

The statistics were described by ONS as “early experiential data on the impact of the coronavirus on the UK economy and society”. The ONS said: “These faster indicators are created using rapid response surveys, novel data sources and experimental methods.”

They cover a wide range of economic and societal performance measures including Value Added Tax returns, footfall, online price change for high-demand products, shipping and social impacts of the coronavirus on Great Britain.

Based on figures from Companies House, there were 3,332 incorporations per working day on average in the first week of August, above the Q3 2019 average of 2,612. Conversely, there were 904 voluntary dissolutions per working day on average, which is below the Q3 2019 average of 1,008.

Also of interest to recruiters, the total volume of online job adverts increased from 53% to 62% of 2019 average, reflecting the largest weekly increase in 2020. “This marks a departure from the previous trend, where online job adverts had remained close to half their 2019 average since the second week of June,” ONS said.

Compiled by Adzuna, the job advert statistics found that numbers increased in 24 out of 29 categories, with the top two gainers in the category of transport, logistics and warehousing (up 46% to 117% of its 2019 average, and facilities and maintenance experiencing a 136% of its 2019 average.

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