It has been a gloomy year for many and according to latest ONS estimates for October 2020 it is still not positive news. Since March 2020, the number of payroll employees in the UK has fallen by 782,000; however, the larger volume drops were at the start of the COVID-19 pandemic.
Redundancies have reached a record high, however, the number of people temporarily away from work has fallen since its peak in April and May 2020 and the number of hours worked is increasing and showing signs of recovery.
The positive news is that vacancies have continued to recover and whilst they are still below the levels seen before Covid-19 became part of our lives, there is growing optimism across the country, and news of vaccines has only served to strengthen that positivity.
The UK employment rate in the three months to September 2020 was estimated at 75.3%
In the three months to September 2020, redundancies reached a record high of 314,000; an increase of a record 181,000 on the quarter (this sharp rise is attributed to the changes in the conditions of the government furlough scheme).
There were an estimated 525,000 vacancies in the UK in August to October 2020; this is 146,000 more than the previous quarter.
For all the uncertainty surrounding this year, it must be said that some sectors and businesses have thrived. Whilst we will sadly say goodbye to many businesses, with the high-street feeling the effects of Covid-19, many businesses who had invested and had a clearly defined eCommerce strategy have thrived and many businesses who hadn't have been encouraged to hire eCommerce specialists to help them be better placed to communicate and sell online.
Third party sellers on Amazon saw a 60% growth year-on-year in Black Friday weekend sales
UK retailers see a 23% increase in online store sales on Black Friday, YoY
It is a great time to be an eCommerce professional and we believe that the wider marketing team will also benefit to support that shift in focus, with business looking to hire marketing & eCommerce specialists to help them to understand and capitalise on the shift in consumer behaviour. For businesses this is also an extraordinary time to hire people within this space, due to company closures and employee
Get in touch with Premier Talent to discuss your career, or a hiring plan you may have as an employer. Email us: contact@premier-talent.co.uk