UK jobs market has a record number of vacancies (1.1 million in September).
Furlough also ended in September with around 1 million estimated to be on the scheme.
So could those hundreds of thousands of workers coming off furlough fill many of those vacancies?....
Furlough also ended in September with around 1 million estimated to be on the scheme.
So could those hundreds of thousands of workers coming off furlough fill many of those vacancies?....
...This could turn out to be a key question for the development of the UK economy.
Looking at the data on furlough & vacancies, there's *some* room for optimism.
Some of the sectors with high vacancy rates now do/did have high numbers of people on furlough in July...
Looking at the data on furlough & vacancies, there's *some* room for optimism.
Some of the sectors with high vacancy rates now do/did have high numbers of people on furlough in July...
...So in theory, furloughed people already in sectors such as retail/manufacturuing/adminstration etc should be able to high levels of vacancies in those sectors....
...Of course we shouldn't assume this will be seamless - furloughed workers may be in different parts of the country, work in different roles etc.
The fact high levels of furlough in these sectors have co-existed with high vacancies shows there are clearly some frictions...
The fact high levels of furlough in these sectors have co-existed with high vacancies shows there are clearly some frictions...
...Yet at least they're in the same sectors.
One could surmise that over time furloughed workers will move into vacancies...
One could surmise that over time furloughed workers will move into vacancies...
...However, there's *also* some glaring mismatch areas between vacancies and furloughed workers.
Vacancies in health and social work, for instance, far outstrip the number of furloughed workers...
Vacancies in health and social work, for instance, far outstrip the number of furloughed workers...
...That implies the process of filing those vacancies could be quite long, involving training - and possibly painful for recipients of those services.
...Also: Researchers at the Institute for Fiscal Studies
@TheIFS recently looked at this question and came to the pessimistic conclusion the mismatch between workers and job vacancies has likely *increased* during the pandemic 👇
ifs.org.uk/uploads/WP2021…
@TheIFS recently looked at this question and came to the pessimistic conclusion the mismatch between workers and job vacancies has likely *increased* during the pandemic 👇
ifs.org.uk/uploads/WP2021…
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