UK – Job vacancies for engineers, financial services and accountants soar in July – Staffing Industry Analysts

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Engineering vacancy numbers in the UK doubled (up 103%) between July 2020 and July 2021, according to data from Broadbean Technology, a network of job boards.
When comparing the latest data with July 2019, though, vacancies are down by 20%, while the number of applications has decreased by 54%.
Similarly, financial services saw vacancies double (104%) between July 2020 and July 2021. For July 2019 to July 2020, vacancies dropped 12%, while application numbers declined 57%.
For accountancy, vacancies were up 104% between July 2020 and July 2021, but down 31% on 2019 figures, while application numbers from 2019 to 2021 also fell 56%.  
Looking at the most recent data, Broadbean saw a 76% annual increase in vacancies for IT professionals in July 2021, as the digital transformation of workforces continues to drive demand for this talent.
The data on jobs also revealed talent shortages were bubbling before the Covid-19 lockdown. The number of people applying for new roles declined by 47% between July 2019 and July 2020, suggesting that the UK was already experiencing a shortfall of talent before the pandemic struck.
Alex Fourlis, Managing Director at Broadbean Technology said, “While there are ongoing reports of a post-Covid talent shortage, as the so called ‘Great Resignation’ impacts headcount and increases competition for talent, our data shows that the skills shortage was already well underway before the virus struck. Covid may have pushed the severe skills shortages the UK is facing into the public consciousness, but trouble was already bubbling under the surface in the early months of last year. 
“Through analysing our historic data, we can assume that the current skills crisis is perhaps more severe than first thought,” Fourlis said. “This can, in part, be linked to the impact of Brexit on talent pools and the need for an appropriate visa route for independent professionals to encourage people from outside the UK to work in the country.”
“There are, of course, variations between sectors, with demand for IT professionals being particularly buoyant this year as businesses continue to invest in automation and digitisation. However, the overall picture remains clear: skills shortages have been brewing under the surface for some time, and the talent gap only seems to be widening,” Fourlis said.
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