October Labour Market Update

The latest ONS labour market statistics show an estimated quarterly increase of 144,000 to 488,000 vacancies in July to September 2020, while there was a slight increase in those in payrolled employment during September when compared with the previous month.

Commenting on the latest figures, Gi Group UK’s CEO, Paulo Canoa said “In the current climate, positive news must be welcomed, but also tempered. Not least with the furlough scheme shortly coming to an end and the potential impact on jobs now looming on the horizon.

The reality is that leaders and policy makers are in a rapidly changing situation and at each juncture they must balance between public health and the health of the economy. The impacts of these critical decisions will play a huge part in defining the fortunes of the jobs market.

Perhaps then, the time for financial comparison with pre-Covid figures has passed – and we should recognise the fundamental shift in normality we have experienced this year. In this constantly changing landscape, we must embrace positive economic news as it arises, but now more than ever, we must guard against complacency.”