Recruiters Bulletin Oct 24

October 24 Recruitment News

October is a relatively busy month for UK news, particularly for potentially important political decisions that may have future economic ramifications - which may interest recruiters and businesses alike.

We have already heard about the worker's rights reforms, but this week there is the International Investment Summit, and there will be the autumn budget at the end of the month

These events will be on the minds of businesses and employers and will help shape business decisions too. They are likely to impact the business landscape at some point and, importantly, could be of interest to recruitment clients and candidates.

•Employment Law UK Workers Rights Reform Click Here
•International Investment Summit Click Here
•Autumn Budget Click Here

Recruiters News in Brief

The UK employment rate (for people aged 16 to 64 years) was estimated at 75.0% in June to August 2024, above estimates of a year ago, and increased in the latest quarter.

The estimated number of vacancies in the UK decreased in July to September 2024, by 34,000 on the quarter to 841,000. Vacancies decreased in the quarter for the 27th consecutive period but are still above pre-coronavirus (COVID-19) pandemic levels.

UK Job vacancies

The key headline and trend is that vacancy numbers decreased in the quarter for the 27th consecutive period from July to September 2024, with vacancies decreasing in 15 of the 18 industry sectors.

EU job vacancies

The job vacancy rate in the EU was 2.4% in the second quarter of 2024, down from 2.6% in the first quarter of 2024 and down from 2.9% in the second quarter of 2023.

The highest job vacancy rates in the second quarter of 2024 were recorded in Belgium, the Netherlands (4.4% in both of them) and Austria (4.0%). By contrast, the lowest rates were observed in Romania (0.7%), Bulgaria (0.8%), Poland and Spain (0.9% in both of them).

The largest increase was observed in Greece (+0.9 pp). The largest decreases were recorded in Germany (-1.0 pp), Austria (-0.9 pp), and Sweden (-0.8 pp).

The highest Job vacancy rates in the EU were in the following sectors

•Administrative and Support Services
•Construction
•Accommodation and Food Services
•Information and Communication
•Professional, Scientific and Technical

US Trends:

Employment Rate in the United States increased to 60.20 per cent in September from 60 per cent in August of 2024. The Employment Rate in the United States averaged 59.25 per cent from 1948 until 2024, reaching an all-time high of 64.70 per cent in April 2000 and a record low of 51.20 per cent in April of 2020. source: U.S. Bureau of Labor Statistics

Total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate changed little at 4.1 per cent, Employment continued to trend up in food services and drinking places, health care, government, social assistance, and construction.

If you are in recruitment and considering how to move forward with your business.

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Whether you're a startup, stand-alone recruiter, SME, or established recruitment business, then contact us to find out more.

Please note the information contained herein is an aggregate of news stories, and official statistic sources by commentators and organisations widely available - readers should seek independent verification, and this in no way represents the views or opinions of Standley Associates.

We will continue to check the news reports and will provide monthly summaries of the trends