The number of job vacancies in February to April 2022 has risen to a new record of 1,295,000, according to the Office of National Statistics.
The increase reflects a rise of 33,700 from the previous quarter and an increase of 499,300 from the pre-coronavirus (Covid-19) pandemic level in January to March 2020.
The ONS also reported that from January to March this year, for the first time, the number of vacancies was larger than the number of people unemployed.
The ratio of vacancies to every 100 employee jobs reached a further record high of 4.3 in February to April 2022, with many industry sectors reporting record high ratios.
In February to April 2022 quarterly vacancy growth fell to 2.7% from 5.8% last quarter. Despite the quarterly growth rate decreasing for nine consecutive periods, the ONS said “it remains positive and displays the most sustained period of positive growth since the end of 2015”.
The rate of quarterly growth varies across industry sectors, with the fastest rates of quarterly growth seen in arts, entertainment and recreation at 33% and construction at 28.1%.
Despite the quarterly rate of vacancy growth slowing down, the number of vacancies continues to rise with 14 of the 18 industry sectors increasing their number of vacancies in the latest three-month period. On the quarter, vacancies increased by 33,700 with the largest increases in construction (10,700) and arts, entertainment and recreation (9,300).
February to April 2022 saw all industries above their January to March 2020 pre-coronavirus (COVID-19) pandemic levels, with the largest increase in accommodation and food service activities up 85,500 (100.6%).
In January to March 2022 the ratio of unemployed people to every vacancy remained at 1.0, the ONS said.
However, for the first time, the number of vacancies was larger than the number of people unemployed, following continued vacancy growth and declining unemployment.
