UK Labour Market Outlook 2021
As the pandemic hit the UK, recruitment fell sharply but has since recovered somewhat:
Unemployment has risen, vacancies have fallen, redundancies have started to rise - but not as much as we might have feared
Furlough is the main reason why: in the short-term it seems to have been effectice at delaying the decision to shed workers
Industry experiences are very different - but much of the economy has started to move towards recovery, even if slowly, with hotels and restaurants the big exception
Different roles therefore face different risks as we move into 2021, depending on how quickly the economy can be reopened post-vaccine
Workers most affected so far have been young, male and foreign national
In a year of disruptive change, the question will be: how much of it is here to stay and how much reverts?