Job vacancies in the construction industry soar to a record high
Job vacancies in the construction industry have risen to the highest level since official records began in 2001. The growth in construction vacancies is a result of the combination of a number of things. Firstly, the reduction in the available workforce. This, twinned with growth in the number of construction jobs required as the country starts to exit the covid pandemic.
Following Brexit and the continuing narrowing of the wage gap with eastern European countries, the number of European Union-born workers in the UK construction industry dropped by more than 25% in 12 months. In the third quarter of 2020 alone, there were 127,000 EU-born workers in the construction industry. A significant drop from 176,000 in the same period the previous year. Even excluding growth in demand, this would add an additional 49,000 job vacancies to the UK construction sector. Current estimates put the construction industry vacancies level at around 2.4 vacancies for every 100 jobs.
Latest government figures from the Office of National Statistics show the struggle to recruit construction workers is intensifying. This comes as companies expand and plan for growth. In one of the busiest times for construction, the three-month period from June to August, unfilled jobs rose to 37,000. Just over 15% higher than the spring March to May period. This is more than double the same period the previous year.
The pandemic... again?
Economists also point to the number of people leaving certain covid-affected industries during the pandemic and not returning, such as construction and hospitality, where a change in career path for many has been taken. Pent-up demand from delayed projects and the growth in home improvement requirements ignited by many more wealthy consumers being unable to spend the usual higher levels of disposable income on hospitality and travel has also added to the recruitment pressures.
This rise in job vacancies combined with a lower supply of skilled labour is likely to push up wages in the coming months as companies look to retain their better staff and recruit new ones.
Latest from BS Fixings
You didn’t think we’d stop there with the sales, did you? Here we are, hot on the heels of our Black Friday event, launching our Cyber Monday Spectacular. This mini-sale...Continue reading
We know everyone likes a bargain; we love one ourselves - especially just before Christmas! Well, we think it’s time to let you lot know what we've been working on...Continue reading
Like it or not, the nights are drawing in, the temperature is dropping, and our thoughts turn from eating salads in the garden to chomping chocolate, chocolate, and more chocolate...Continue reading
The 12 Days of Christmas at BS Fixings
Right. If you weren't feeling Christmassy already, you better be feeling it now. Our latest promotion will make sure of it. We've barely got Black Friday and Cyber Monday out...Continue reading
From Chicken Feed to Hot Tubs - The different uses for our products
In recent months, we've picked up on some novel uses for our products. Some of our customers use our products for their intended purpose, or the purpose we are aware...Continue reading
How is stainless Steel banding made? Watch our Video to find out
Have you ever wondered how stainless steel banding is made? Well, here at BS Fixings we manufacture our stainless-steel banding at our manufacturing facility in Lancashire. We've made a short...Continue reading