First full week of Lockdown 3 has limited impact on the UK job market
As the UK finishes its first week in a third national lockdown, the latest job market data from the UK’s leading independent job board, CV-Library, reveals a resilience in the UK job market that may surprise many.
When compared to the first full week of lockdown one in March 2020, the number of job postings were up a huge +91.8%. Even in the first week of lockdown two (November 2020) when the market fared much better, job postings are +0.8% higher over the first seven days of lockdown three.
The most revealing data lies in the year-on-year comparison with weekly job postings over the last week showing just a –10.7% annual decline.
Broken down by industry, the Covid-19 patterns are clear when compared to 2020. Job postings in the catering sector are down -75.7%, leisure and tourism fell -68.7% and retail dropped by –48.6%. Unsurprisingly, the increases came in distribution +44.5%, social care +27.5% and medical, pharmaceutical and scientific +26.6%. There was also an increase of +59.4% across managerial roles and a +46.4% rise in job postings within the telecoms industry.
Lee Biggins, founder and CEO of CV-Library comments: “Starting 2021 in another full lockdown, and off the back of a year spent mainly under restrictions, many feared this would be a tipping point for the UK job market. The impact of Covid-19 is still clear to see within the individual sectors, but the overall initial impact of this third lockdown appears to be the least damaging, proving that we’re learning to navigate and adapt in these unprecedented times.”
Biggins continues: “January is traditionally one of the busiest times of the year for the job market and we must acknowledge this seasonal boost. However, in January 2020 the economy was stable and the world hadn’t been impacted by the pandemic. For job postings to be only –10.7% down on that period should provide a boost to both employers and job seekers and is a reassuring start to what looks to be another uncertain year.”