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ONS and Adzuna launch real time job vacancy index to help get Britain back to work

 

We are delighted to announce today a new partnership with the Office for National Statistics (ONS). The partnership sees Adzuna data exclusively powering a real-time national job vacancy index. This forms a key part of the ONS’ weekly ‘faster indicators’ report, an in-depth and up-to-the-minute study of the UK job market and the economic and social impact of Covid-19.

The index was created by analysing over 36 million job adverts on Adzuna during the period of February 2018 to May 2020, the report provides insights into how employer behaviour is changing in response to the pandemic. This is the first of what we anticipate will be a series of ‘leading indicator’ job market reports published by the ONS which will support their existing Labour Market Survey.

There’s no getting away from the fact that the labour market remains in a state of cardiac arrest. The UK has seen a 58% drop in hiring activity over the last 2 months and as Britain ‘unlocks’ over the summer, a key priority for the government is to make data-driven decisions to get people back into work as quickly and efficiently as possible. These live data insights from over 50,000 British employers will give a week-by-week and sector-by-sector temperature reading of the hiring activity across the country.

Doug Monro, co-founder & CEO of Adzuna, said: “Up to the minute data on job vacancies is at the very heart of what Adzuna do, and we are thrilled to be in a position to potentially help the country navigate this crisis. It’s a real testament to the incredible work of our team that the ONS now trusts our real-time job market data as an official government statistic – a rare feat for a tech startup. We have been collecting and analysing the UK job market data for almost a decade, and are proud to be doing our bit to get Britain working again.”

David Freeman, Head of Labour Market and Households at the Office for National Statistics, commented: “Adzuna has been a long standing partner of the ONS, and these valuable data are an important new addition to our latest reports. The rate of social and economic change since March has emphasised the need for ‘live’ employment data to supplement our existing surveys and give a more complete picture of how the labour market, and overall economy, is performing. It’s just one example of how the ONS has been working with businesses to mobilise the power of data for public benefit during the pandemic.”

As co-founder, i’m particularly proud of this new use of our statistics and technology. We’ve been working hard over the last 9 years to build to a world class data science team, gather hyper local job market stats, make insights and ultimately, help jobseekers and employers make better decisions. This partnership puts a lot of that muscle to work. I’m sure this new job vacancy index will play a key role in helping unlock the U.K’s labour market over the coming months.