Job vacancy numbers down 46% since March
Since the beginning of March, the number of job vacancies has fallen by 46%, according to Glassdoor and its latest job data for the week up to 11th May 2020.
Despite job vacancy numbers continuing to fall, this has now begun to slow, down just 2% in the week to 11th May. According to Glassdoor, the largest drops in vacancy numbers were in consumer services, such as the media, publishing, arts and entertainment.
Daniel Zhao, Senior Economist at Glassdoor, commented, “The rate at which the UK job market is folding in on itself is slowing, but that doesn’t mask the fact that there are suddenly many more job seekers around and only half as many jobs to go for. The competition for these coveted roles will be intense and the time to get hired will naturally slow down for most people.
“With the collapse in advertising revenues, the media sector is suffering a large weekly contraction in open jobs. The tech industry is not far behind this week but has weathered the storm far better since the beginning of the pandemic than media, publishing and other consumer services such as arts, entertainment, automotive, travel and tourism.”
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