The job market has lost more than 1 in 5 advertised vacancies in the last 12 months as companies hold back on hiring plans post Brexit. The UK has lost 74,938 in the last month alone as demand for new workers falls for the sixth month in a row.
The biggest losses can be seen in the North, with Yorkshire and the Humber recording a 27% drop in vacancies year on year. The region welcomed an influx of job opportunities last summer after securing several high-profile investment opportunities. However advertised vacancies have steadily declined since October 2019, with both job satisfaction and reluctance to invest in new staff likely playing a part. Demand for workers has fallen in Scotland, alongside unemployment levels, as the economy keeps record number of people in work. The trend has pushed salaries above the rate of inflation at 2.2%.
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