Worker shortages in the UK continues to intensify despite firms stepping up efforts to hire talent, according to new figures published today.
Research by Broadbean Technology, the world’s largest network of job boards, shows job application in the UK fell 24 per cent between May and June of this year.
However, vaccines were up 10 per cent over the same period, illustrating the severe mismatch between the supply of and demand for workers.
The figures raise fresh concerns that inflationary pressures could mount as a result of firms increasing wages to attract candidates.
The ONS estimates underlying pay growth is between 3.2 and 4.4 per cent, meaning wages are rising in real terms.
Applicants per vacancy fell for the third consecutive month, said Broadbean.
The biggest contributor by far to the fall in applications was the hospitality and catering sector, down 78 per cent over the last month.
The drop in applicants for pub and restaurant jobs can be attributed to workers shifting into more stable employment and seeking jobs that will limit their exposure to deadly strains of the virus
As Alex Fourlis, managing director at Broadbean Technology, said: “The UK job market is becoming increasingly competitive as a shortage of talent continues to be exacerbated by the spikes in hiring that most businesses are reporting.”
“It’s unlikely that we’ll see any improvement on this situation as we enter the mid-summer months, with many jobseekers now postponing their job search until September.”