‘Bounce back’ | Job vacancies hit record high as ‘hiring crisis’ continues

It was revealed today that job vacancies within the UK have hit a new record high, as economic recovery following the coronavirus pandemic continues. According to the ONS’ latest data report, the volume of vacancies in the three months to August of 2021 rose above the one million mark for the first time since the records began, back in 2001. The number of vacancies has not only recovered from the lowest levels ever recorded, in the throes of the pandemic, but actively risen above pre-pandemic levels, to a current high of 1.3 million. As a result, Siren Thiru, Head of Economics at the British Chambers of Commerce, recently told the BBC that firms are currently facing an “acute hiring crisis,” noting that the winding down of the Government’s CJRS scheme was likely to have a vast impact in the numbers. Read more HR reacts as vacancies and wage growth hit all-time high “With Brexit and COVID-19 driving a more deep-seated decline in labour supply, the end of furlough is unlikely to be a silver bullet to the ongoing shortages. These recruitment difficulties are likely to dampen the recovery by limiting firms’ ability to fulfil orders and meet customer demand.” However,