UK vacancies fell to its lowest level in 4 years as waning business confidence and Brexit uncertainty appear to unsettle both employers and employees across the UK. The downfall in advertised vacancies has affected almost all industries across the UK, with a loss of 156,353 advertised jobs year on year.
Manufacturing, Retail, and Construction jobs are among the worst affected in the past 12 months. The Manufacturing industry has lost just under half of its positions (45%) in the past year, as companies scale back on production and domestic demand weakens. Construction jobs have also suffered significantly in the last year. The industry lost 27% of advertised vacancies, as firms report reduced workloads and cautious spending due to political uncertainty in the last year. Low growth in consumer spending also spells bad news for the retail industry. 2019 was recorded as one of the worst years for the high-street in 25 years according to analysis from the Centre for Retail Research. Our data reveals that retail vacancies have dropped 20% year on year, shaving off over 4,000 jobs since the beginning of the year. The growth of online shopping and new technologies has led to a significant decline in physical stores, which is predicted to continue into 2020.
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