Retail Jobs Report
Retail jobs plateau, economic inactivity rises
The tightest labour market in decades has emerged with the unemployment rate at 3.6% in the three months to July and job vacancies remaining near record highs. A shrinking pool of available labour (640,000 people are no longer economically active) has meant there are more vacancies than workers to fill them.
Indeed, vacancies remained near 1.3 million in the three months to August, almost half a million more vacancies than before the pandemic. Vacancies are above pre-crisis levels in every sector, with social care as well as accommodation and food leading the way in absolute terms, followed closely by professional services. In absolute terms, the retail sector accounts for one of the largest number of vacancies, at 100,000, around 10,000 higher than prior to the pandemic. The industry continues to confront recruitment challenges with a shortage in HGV drivers, warehouse workers as well as workers willing to work unsocial hours.
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