"Job vacancies in Britain have fallen to their lowest level in five years, with graduate recruitment bearing the brunt as employers contend with higher payroll costs and the rapid adoption of artificial intelligence. Data from Adzuna show that advertised vacancies dropped to 694,940 in January, down 16 per cent year-on-year and 3 per cent compared with December. It is the first time since January 2021 that the number of vacancies has dipped below 700,000."
"The decline has been particularly severe for young people entering the labour market. Fewer than 10,000 graduate roles were advertised last month, the first time that threshold has been breached since records began in 2016. Graduate vacancies have fallen 45 per cent over the past year, while entry-level roles are down 4.4 per cent. Youth unemployment has climbed to 16.1 per cent, its highest level in more than a decade. There are now 2.4 jobseekers competing for every vacancy, up from 2.27 in December,"
Advertised job vacancies in Britain dropped to 694,940 in January, the lowest level since January 2021, down 16 per cent year-on-year and 3 per cent month-on-month. Graduate roles fell below 10,000 for the first time since records began, a 45 per cent annual decline, while entry-level vacancies fell 4.4 per cent. Youth unemployment rose to 16.1 per cent, creating 2.4 jobseekers per vacancy. Employers cite higher employer national insurance and minimum wage costs and are exploring AI tools that could automate junior administrative and professional roles. Active REC job postings rose month-on-month but remain down annually.
Read at Business Matters
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