Jobs are continually being created all across the world. So, the latest job creation statistics help us to understand how the jobs that are being created affect the economy.
They give us a clear idea of how the UK job sector has grown over time. We’ve gathered the latest facts and figures, and we’ll go over the most important new trends to look out for in 2020.
Some of the big questions we’re going to address are:
How many jobs were created each year? How many new jobs are created monthly?
Read on if you’re curious to find out.
But before we dig deep into every single stat, let’s start with some…
(ONS Labour Market)
There were a total of 846,000 estimated vacancies in the UK in 2019. This is 28,000 more than the year before. There are also an estimated 141,000 vacancies in the retail, motor vehicle repair, and wholesaling industries. This accounted for 16.7% of the total vacancies in the UK.
(ONS Labour Market)
The number of present vacancies has increased since 2012. The estimated number of vacancies, according to UK employment statistics, fell sharply since the 2008 recession. Since then it has risen steadily since the year 2012. Between the months of February and April 2019, there were around 846,000 vacancies in the UK. This is actually 28,000 more than the year before, which indicates expansion within businesses.
Clearly, more and more jobs are being created, and people don’t seem to be able to keep up with the UK job creation rate. That’s great news if you’re a job seeker!
The UK job market statistics show that there are many more vacancies for restaurants and hotels when compared to other industries and markets. A sharp upward tick in the public service sector happened in 2011 because of temporary recruitment. Between April and February 2019, there were 2.8 job vacancies per 100 employees when looking at the economy as a whole.
Now, the sector that showed the highest vacancy rate is actually the accommodation and food service sector. They had 4.1 vacancies for every 100 employee jobs. The sector with the lowest vacancy rate was actually public administration. The job sector for defence was also very low, with 1.7 job vacancies for every 100 jobs.
When it comes to newly created jobs, it’s important to note that the number of construction jobs has increased by 64,000 between 2017 and 2018. This employment statistic is for the months of December 2017 through to December 2018. Good job creations often bolster the industry. And when you look at construction in general, you will soon find that there have been a number of new jobs appearing monthly.
The job creation rate is soaring, and a lot of this comes down to seasonal adjustment. The number of jobs is not the same as the number of people who are in employment. The main reason for this is because it’s possible for someone to have more than one job.
The total number of jobs created by entrepreneurs increased substantially between December 2017 and December 2018. The sector that actually showed the highest growth was communication and information. According to these entrepreneurship stats, this is up by 90,000 when compared to the previous year.
There’s been a large decline in the number of jobs in mining, quarrying, and manufacturing since the records began in 1978. The number is seasonally adjusting.
Now, the number of jobs fell between 1978 and 2008. But when you look at the number of jobs created by entrepreneurs, you will soon see that things have been very stable over the last 10 years.
(ONS Employment and Labour Market)
According to the latest new job creation statistics, the state of the current job market in the UK is very turbulent. There were an estimated 800,000 vacancies in the UK, which is 18,000 less when compared to the three months to July. This is the ninth fall, consecutively, of the last three months.
What’s more, there are 53,000 fewer jobs this year when compared to the year before. This ultimately means that it is the fifth consecutive annual fall. It’s been estimated that there are 136,000 vacancies in the social work and healthcare sector. This accounted for 17% of vacancies in the United Kingdom.
The thing is, the estimated amount of vacancies in the UK happened to fall sharply due to the 2008 recession. Since 2012 however things have been increasing. In 2019 however, things started to change. Between August and October, there were 800,000 vacancies and 18,000 less than the previous quarter. There were a lot less compared to the previous year.
(ONS Vacancies and Jobs)
The sector that showed the biggest increase in quarterly income was actually social work and human health. The biggest estimated annual increase in jobs was scientific, technical and professional. This is up 183,000 on the year.
The UK labour market has shown resilience to a lot of the uncertainty regarding Brexit, UK job creation statistics reveal. Official data shows that employment reached its highest level near to the end of 2018 and total pay has grown as well.
Additionally, the pace is the fastest that it has been for over a decade. Regular pay, which includes average weekly earnings but excludes bonuses, rose 3.3% year on year when you look at the months leading up to November. This was in line with expectations at the time.
Still, it does remain well below the rates of pay growth seen before the global crisis. The labour market appears to be tightening when you consider the lower inflation. This is also boosting household living standards. But regular pay is up 1.1% in real terms, which is the biggest improvement since the 2016 referendum.
UK job statistics for June 2019 show that there were over 29,005 full-time vacancies advertised in England. This compares to 31,198 that were open in 2018. The number for 2017 was 30,493, and 29,855 in 2016. This is higher than the level of advertised vacancies in 2015, which stood at 27,799.
Between the 1 April 2019 and the 30 June 2019, there were 90,992 vacancies in England. Out of those, 83% were permanent and 17% were fixed-term. The number of vacancies and full-time equivalents did vary between the National Workforce Data Set groups.
There were almost 94,000 full-time advertised positions in hospital services and community services in 2018. This equates to a shortfall of around 8% or 1 in 12 posts. These shortages are distributed unevenly across the country.
For instance, the highest percentage of full-time vacancies is in the Thames Valley (12%), while the lowest is in the North East, (4%). The highest advertised numbers appear to be nursing jobs and midwifery jobs. The administrative or clerical positions have 20,000 active job positions.
Now, it’s well known that there is a job shortage in the NHS, but really a lot of the positions that need to be filled have to do with nursing and administration rather than doctors.
(ONS Annual Survey of Hours)
Another interesting UK job statistic is that UK median salaries are actually up by 3.5%. The UK median weekly salary for 2017 was £550. When you look at the year 2018, you’ll see that it was at £569. The weekly earning boost is certainly having an impact on the economy, and research has shown that it has been on the up for quite some time.
UK job creation has come a long way since records began. It’s incredible to see that so many jobs have been created across various industries. Some of them include the restaurant, healthcare and construction sectors.
UK job creation doesn’t look to be showing any signs of slowing down even with the impending Brexit, and there are even job creation schemes UK that are continuing to boost the efforts of entrepreneurs across the nation.
Here’s the key takeaway:
UK job creation statistics have shown time and time again that there is a bounce back after each recession as well. Of course, UK job creation statistics can be used in conjunction with unemployment statistics as well, to gain a much bigger idea of where the economy currently stands. There is also a known shortage within the NHS when it comes to jobs, and a lot of vacancies are going unfilled.