London defies ‘Awful April’ slump with more job postings
London was one of two regions across the UK to have seen a rise in job postings, with fresh data suggesting businesses in the capital city defied the double whammy of tax hikes and President Trump’s tariff threats.
Europe’s richest city has continued to buck the trend of low confidence felt across the country as the Recruitment and Employment Confederation (REC) said the overall number of job postings in London rose by 1.7 per cent in April compared to the month before.
This rise was more than double the increase seen in the South West where numbers of job postings grew by 0.8 per cent.
All other UK regions suffered from a fall in vacancies, according to REC’s database of thousands of job boards, with the average decrease last month being 4.8 per cent.
The south and west London districts of Lambeth, Kensington & Chelsea and Hammersmith & Fulham saw the highest increase in job postings while more opportunities to work as a business sales executive or dental practitioner were provided.
Some of the steepest falls in demand came in construction, law and teaching, in line with wider trends showing that more construction firms have folded than ever recorded.
REC chief executive Neil Carberry said troubles in the care sector, which posted 45,760 job postings in April, has been exacerbated by a reduction in “access to international staff” following immigration reforms made in a recent white paper.
London can’t escape retail woes
Carberry also said government policies on increasing employment taxes and adding workers rights through the Employment Rights Bill had weighed down on hiring and investment.
“One quick win for the government is to reassure firms that application of the Bill will be staged, and done in a practical way that avoids tying businesses and workers up in the costs and complexity of the tribunal system,” Carberry suggested.
“Real reform to the Bill is needed to achieve this.”
Lords are proposing several amendments to the Labour government’s flagship bill, with retail veterans such as Lord Rose claiming reforms were “kicking business up the arse”.
The British Retail Consortium warned last month that changes to zero-hours contracts, sick pay and dismissal would pile extra costs on recruiters and undermine investment plans.
REC said the retail sector saw a 3.9 per cent decrease in the number of job postings between March and April, with fewer cashiers and shelf fillers being asked to join staff at high street shops and supermarkets.
Writing for City AM last month, London Assembly member Andrew Boff warned higher business rates and taxes on jobs risked wiping out thousands of corner shops and newsagents across London.
PwC said in March London lost on average a shop a day last year.