ONS data on the total number of jobs in industry at any given moment also suggests that a recession has a sector-specific impact on employment and hiring. He said: “Healthcare roles are typically among the hardest to fill in any economic environment and highly skilled tech roles still remain relatively difficult to recruit for. Jack Kennedy, UK economist at hiring platform Indeed, added that job postings for consumer-impacted industries are already slowing, but companies are still seeking specific skill sets. However, public services, such as teachers and nurses, could stay in high demand, as the need is always there regardless of economic conditions.”
“People are also less likely to buy durable goods like cars and furniture. He told HR magazine: “The rise in energy prices means that people have less money to spend so we could see the hospitality industry affected, and other places that people spend their disposable income. Why employee resilience is the future of workĭata from Ayming UK shows that 63% of businesses are still struggling to grow due to staff turnover and the loss of skilled workers.Īs a result, an analysis of more than 750,000 job adverts by Go1 has found that companies are still actively searching for hires with specific capabilities, with soft skills such as confidence, creativity and problem-solving top of the in-demand list.Ĭoupled with an understanding that a recession will impact consumer spending in specific industries Jon Boys, labour market economist at the CIPD, said that this will result in any recession hiring activity being impacted in a by-need and sector-specific manner. HR which maintains trust with employees more likely to succeed in pandemic recession
How to prepare organisations for a recession “The predicted economic downturn is unlikely in the short term to eradicate the skills shortages felt by many industries."
He told HR magazine: “.uk’s job vacancy data suggests that, if there is a recession, it is unlikely to be one that will lead to high unemployment. With fears that a recession is looming and with inflation expected to hit 18% in 2023, James Reed, chairman of .uk, said some of the more extreme characteristics of this jobs boom will likely tail off but he still expects businesses to need to satisfy their ongoing skills needs.
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