Employment Rate Remains Lower Than Pre-Covid

Posted on Saturday, January 14, 2023 by Lydia SinclairNo comments

The employment rate in the UK is still lower than it was before the Covid-19 pandemic, the latest figures have shown. 

Earlier this week (November 15th), the Office for National Statistics (ONS) released its Labour Market Review for November 2022. The report showed the employment rate for July to September was 75.5 per cent. 

Although this remains unchanged compared with the previous quarter, it is still 1.1 percentage points below what it was between December 2019 and February 20202.

It noted: “Over the latest three-month period, the number of employees decreased, while self-employed works increased.”

This suggests people are getting frustrated with being in employment, preferring to freelance or set up their own business than refer to a manager. 

As a result, vacancy rates are very high. There are 1,225,000 jobs available in the UK, despite having fallen for the fourth month in a row. While there are many opportunities available, these might not increase over the next few months as employers try to find ways to reduce their spending budget. 

Since January to March 2020 the number of job vacancies on the market has soared by 429,000, showing they are much higher now than pre-pandemic levels. 

People looking for new jobs in accountancy could be in a good position, as businesses always need good accountants, no matter what the wider economic situation is. 

Therefore, the field offers the chance to work in different industries, learn new skills, specialise in certain sectors, and have a secure career for life. 

Looking for accounting jobs in Brighton? Click here

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