“These may be tough times for many workers, but we are seeing green shoots starting to appear, as the number of job adverts placed on Totaljobs has been increasing weekly. This is particularly the case in industries like social care, IT, engineering and manufacturing. Last week there was an 18% increase in the number of jobs advertised on Totaljobs with the highest number of vacancies on site since March,” he added.
Gerwyn Davies, the CIPD’s Senior Labour Market Adviser, agreed that whilst the volatility of the jobs market is concerning, it may be temporary. “Given the extent of the economic crisis, today’s figures could be a lot worse. It is early days, but it seems that employers' first response to the pandemic has been to cut pay and recruitment rather than to make large-scale redundancies.
"Vacancies have been slashed alongside a sharp fall in pay. By contrast, the level of redundancies has not increased significantly yet. This is largely due to Government’s Job Retention Scheme and employer efforts to avoid the need for significant job cuts through a variety of tactics such as pay freezes,” said Davies.
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