Job Vacancies Hit Record High

Posted on Monday, November 8, 2021 by Lydia SinclairNo comments

People looking for accountancy jobs are not alone as recent figures show there are a record high number of positions available at the moment.

According to the latest data from the Office for National Statistics (ONS), there were 1,102,000 job vacancies between July and September 2021. This represents an increase of 318,000 from before the pandemic, from January to March 2020.

It also breaks employment records, as there has never been as many job vacancies in reported history, which is good news for those looking for new opportunities in the workplace or who are trying to get their foot on the career ladder.

The figures showed all industry sectors had either more or the same number of positions that needed to be filled compared with their pre-pandemic levels.

Darren Morgan, director of economic statistics for the ONS, was reported by the Daily Mail as saying: “The jobs market has continued to recover from the effects of the coronavirus, with the number of employees on payroll in September now well exceeding pre-pandemic levels.”

He also noted there were 1.2 million job vacancies in September, which was also a record high.

Despite there being lots of working opportunities available at the moment, the Labour Market Overview revealed the employment rate in the UK was also promising. Between June and August 2021, it grew by 0.5 percentage points, reaching 75.3 per cent.

At the same time, unemployment dropped by 0.4 percentage points to 4.5 per cent, in spite of the furlough scheme coming to an end.

Chancellor Rishi Sunak praised the government’s Plan for Jobs initiative for supporting the labour market during this difficult time.

“As we move to the next stage of our support, it's encouraging to see our Plan for Jobs working – the number of expected redundancies remained very low in September, there are more employees on payrolls than ever before and the unemployment rate has fallen for eight months in a row,” Mr Sunak stated.

Earlier this month, the government announced more than £500 million will be invested in the scheme to help hundreds of thousands get back into employment. It will do this by enhancing its support for people on Universal Credit; giving guidance to those over the age of 50 on the next stage of their career; encouraging 16 to 24-year-olds to reach their full potential by developing skills and experience; and extending its £3,000 incentive payment for businesses that hire apprentices until January 31st 2022.

Those who are considering a change in career or want to kickstart their employment journey are more inclined to look for a job in accountancy than ever before. According to a survey by the Association of Chartered Certified Accountants, the percentage of young people pursuing a career in accountancy rose from 21 per cent to 30 per cent during the pandemic.

Financial security was one of the major reasons behind this increase in popularity, with 40 per cent of those surveyed saying it has now become the most important factor when it comes to choosing a career.

To look for jobs in accountancy in Brighton, get in touch with us today.

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