Report on Jobs May 2020

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Every month, Cavill Robinson Financial Recruitment contributes to the Report on Jobs, which is compiled by the recruitment trade association, the REC and KPMG. This months's figures bear out the atrocious impact of the government's decision to shut down the economy because of Covid-19. 

Commenting on the latest survey results, James Stewart, Vice Chair at KPMG, said:

“Lingering uncertainty around the COVID-19 pandemic, and when the outlook may improve, continues to take its toll on the UK jobs market. Hiring plans which were put on hold in March remain on ice, with many businesses focusing on maintaining their current staff rather than expansion or replacement. The number of people looking for work has risen at the quickest rate since July 2009 making it a highly competitive market. With a potential July stimulus package from the Government set to include a focus on retraining and skills, adaptability will be the key to success for jobseekers in 2020.”

Neil Carberry, Chief Executive of the REC, said:

“Given the impact of the lockdown in early May, it’s no surprise that these figures look bleak. But in the two weeks since this data was collected, lockdown rules have been eased and the feedback we get from recruiters every day suggests that the
slight improvements that we can see in the placements and vacancies data have continued. I’m also hearing from business leaders all over the country that things are starting to look up. There is a long way to go, but it’s time to talk about how we
recover from this crisis.
“Collaboration between government, businesses and recruiters will be vital as we try to get the economy up and running again. The UK’s staffing and recruitment companies are experts at helping people find work, and we are ready to support
jobseekers in the months ahead.”

Jeanette Robinson, Managing Director of Cavill Robinson said:

These are very bleak figures for both jobseekers and the recruitment industry. History will judge whether effectively shutting down the economy was the right thing to do but the damage it has wreaked on people's lives and livlihoods is disastrous and it is difficult to know how long the impact will last. It can only be hoped that we are now moving in the right direction but I fear mass redundancies once the furlough scheme starts to be tapered down and competition for roles will be intense."