Covid-19 hits the job market – vacancies drop 22% in six weeks
Coronavirus has unsettled job markets across the world and posed serious challenges for key industries such as travel, hospitality and manufacturing. The crisis has damaged many industries, but has created opportunities in unexpected fields. Job search engine Adzuna.co.uk has analysed the latest job market data to assess how each industry has been affected and the opportunities that are still available across the U.K. this week.
has lost 22% of advertised vacancies in the past six weeks, only surpassed by
job losses in the US and Canada with drops of 30.9% and 27.4% respectively. The
hospitality sector is unsurprisingly the biggest casualty in the UK job market,
losing 40% of it’s advertised vacancies after facing closures across the board.
In contrast, cleaning work, teaching vacancies, scientific vacancies and
accounting and finance have all increased in a bid to stop the spread of the
virus and help support the long term economic impacts of coronavirus. Adzuna
have analysed the industries that have been affected this week.
Domestic workers and cleaning jobs (+13.3%)
vacancies – 8,545
Demand for cleaners, domestic workers and hospital cleaning staff continues to increase in the wake of the coronavirus outbreak. Public health officials continue to stress the importance of clean working and living areas to contain the virus, which has led to increased demand across the country. While vacancies grew in the second half of March, the lockdown and distancing measures taken by the government last Monday suggests home and domestic job opportunities are also set to fall.
Teaching jobs (+4%)
vacancies – 71,633
Advertised teaching jobs have increased by 4% across the UK, despite school closures across the country. Schools are currently closed for all pupils apart from vulnerable children and the children of vital healthcare workers. However there are still over 15,000 positions advertised for ‘Online Teachers’ and 7,239 for ‘Tutors’, an early indication that parents are looking for additional resources to support their homeschooling capabilities. The top companies looking for teaching staff are Spires Online Tutoring (1,444), Tutorful (1,032), Simply Education, Pearson (691), Nord Anglia Education PLC (131), Birmingham City Council (95).
Accounting and Finance (0.3%)
vacancies – 67,988
Accounting and finance jobs have remained relatively stable in the past 6 weeks, as companies look for their expertise to safeguard them from the long term effect of coronavirus. There are currently 67,988 accounting and finance jobs available across the UK. Citi (584), EY (510), Pwc (465), Deloitte (339) and Grant Thornton (251) are among the top hiring companies in the UK.
vacancies – 67,988
Manufacturing jobs have dropped by 12.4% since mid-February and the impact has been felt across the globe. Several major players, including Tesla and Nintendo have been forced to pause production or delay shipments due to the virus outbreak and manufacturers in the UK have urged the government to help them limit the damage caused by coronavirus. Despite the volatility in the market and uncertainty faced over the coming year, there are still over 11,000 positions available in the UK that will play a crucial role in keeping the industry afloat during these uncertain times.
Graduate jobs (-13%)
Open vacancies – 9,492
As we saw in the 2008 financial crisis, graduate jobs and schemes are often the first to be culled. Companies have been forced to scale down on graduate hiring in recent weeks. Graduate jobs have dropped 13%. Internships and entry level positions have also dropped year on year as companies hold back on hiring plans. However opportunities are still available for graduates in key industries, such as teaching, sales, IT, engineering and accounting and big companies like Facebook, Deloitte & PWC continue to advertise graduate positions.
Hospitality jobs (-39.5%)
vacancies – 22,882
Unsurprisingly, the U.K hospitality sector has suffered some of the deepest cuts in the last fortnight after experiencing nationwide closures of pubs, bars and restaurants. Over 25,000 job vacancies have been lost across the country as hiring freezes take hold, employees are furloughed and the entire industry comes to a standstill.
Andrew Hunter, Co-Founder of Adzuna comments ‘we expect to see a sharp slowdown in hiring and a rise in unemployment across the globe as countries battle to contain the virus. With U.K. unemployment likely to double in April and the number of vacancies advertised shrinking, we expect 2020 job seekers to experience one of the most challenging and competitive job markets since we started collecting data almost 10 years ago. The road back to economic recovery will likely be slow and tough, but I am given solace by some sectors in the British economy still actively recruiting, as well as the ‘national effort’ recruitment drives for key workers and vital healthcare staff.’
Adzuna is a search engine for job ads used by over 10 million visitors per month and lists every job in the UK. We search thousands of websites so our users don’t have to, bringing together millions of ads in one place. By providing smarter search options and powerful data about the job market, we give jobseekers the information they need to take control of their careers.
Adzuna was founded in 2011 by Andrew Hunter and Doug Monro, formerly of eBay, Gumtree, Qype and Zoopla and is backed by leading Venture Capital firms Smedvig Capital, Passion Capital, The Accelerator Group and Index Ventures.
We also supply real-time data to the Number 10 Dashboard and Office for National Statistics labour market indices. In 2018, Adzuna won the contract to run Find a job, one of the British government’s most used online services. Adzuna provides vital, up to the minute job market data to the British government to help guide decision making through the coronavirus crisis.
Adzuna’s mission is to be the best place to start looking for a job. We love using the awesome power of technology to help match people to better, more fulfilling jobs and keep Britain working.