23rd November 2021

Employers urged to focus on retention as job vacancies hit another record high

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Experts also warn pay growth could cause inflation increases, adding the UK must find ‘Goldilocks’ solution that still protects living standards.

The number of job vacancies has reached a new record high, official figures have shown, with experts warning that employees are increasingly taking advantage of the jobseeker-friendly labour market to change roles.

In the three months from August to October, the number of job vacancies rose by 388,000 to a new record of 1.17 million, figures from the Office for National Statistics (ONS) have shown.

At the same time, the number of people on payroll increased by 160,000, while the unemployment rate fell by 0.6 percentage points to 4.3 per cent – nearly pre-pandemic levels.

Read the full article here https://www.peoplemanagement.co.uk/news/articles/employers-urged-focus-retention-as-job-vacancies-hit-another-record-high