Bringing talents & resources together for people & organisations to thrive. Sustainability & Social impact. Employer Strategy @ Jobs 22. Opinions are mine.
Welcoming today Richard Fuller, MP for North East Bedfordshire, with Yolande Mitchell, Emma Sharp and Jay Brown in #Jobs22 Biggleswade office. Sharing and reflecting on our team's experience placing job seekers into sustainable jobs.
#morethanjustajob#socialimpact
We have to place ourselves where we can make the greatest contributions to our organizations and communities. And we have to stay mentally alert and engaged throughout our whole working life — which means knowing how and when to change the work we do. https://t.co/zStMlroDVh
Significant fall in employment rate (0.5pp) & rise in unemployment rate (0.5pp) today, with vacancies <1m for 1st time since economy reopened after pandemic. Clear labour market has flattened, but has it turned? Single month data less bad so worth waiting for next month.
Thank you to @Marcus4Nuneaton MP for spending time today with our @Jobs22ltd team in Nuneaton. Delighted to have been able to share our views on the employment market and how we are working with job seekers to get them into sustainable jobs.
#morethanjustajob#socialimpact
Our Labour Market Statistics briefing note is now live. Today’s figures are a mix of good & bad news, the bad being a surprise based on recent data. Economic inactivity has started to rise, reversing the recent growth in labour force size. https://t.co/sQfglRVCm2 1/4
Good news: Real regular wages rose for 1st time in 19 months. Further rises likely ahead assuming inflation falls further. Bad news: real wages £11k lower than on pre-financial crisis trends & fastest nominal wage growth on comparable records back to 01 will worry Bank of England
Further graph on yday's jobs data.
This is the first time outside of a recession or lockdowns that as many people leaving 'economic inactivity' moved into unemployment as moved into work.
See below: yellow line now as high as the blue.
This despite >1m vacancies.
This is why...
Is that happening now? It's possible.
e.g. the pre-Covid rise in applications/ fall in dropouts coincides with a time when sanctions in UC shot up.
And it's remarkable that nearly every single application between March 2020 and start of 2021 was approved (the yellow line).
... the rises in benefit receipt are also being driven by poorer health, population ageing, covid impacts etc.
But as OBR point out, there's tons of evidence that things like tougher sanctions regimes on unemployed and poor administration of health benefits can push up receipt.
This is a killer chart from @OBR_UK today. Shows how:
- More people are applying for ill-health benefits (shaded areas)
- Fewer are dropping out (red line)
- Approval rates have risen (yellow line)
- Most people get the higher rate of benefit/ no work-related reqts
🧵
100+ jobs seekers meeting with 8 employers such as @NHSEngland or @jdwtweetsuk at @Jobs22ltd Job Fair in Luton today.
We have interviews on the day and a dedicated station for specific roles in the education sector.
Well done to the team for such an energetic event!
Over 50 and looking for work? Employers need your skills whether returning to work or considering a role change
Read more in the Sun https://t.co/TWv6zUy9Bb
#JobHelp
Quick note on economic inactivity. Definitely falling, which is good. But numbers out of labour market due to ill health still elevated: need to reduce NHS waiting lists; work & health work together; work with employers on job design etc; widen employment support.
Let's repeat this "UK is the only G7 country to have lower employment rate than pre-pandemic." A lot more to do to get job seekers into sustainable jobs!
#SocialImpact at @Jobs22ltd
Your regular reminder that, according to the LFS, UK is the only G7 country to have lower employment rate than pre-pandemic. Inc simplified chart showing pandemic start & latest employment rates (ignoring path between). We should aim for highest in G7. https://t.co/6aGwZNToxT
Insightful discussions today with Councillor Brian Hammersley and Michelle Horton on how to best support local businesses and change people's life through work. Thank you for your support and spending time with us at @Jobs22ltd Community Cafe in #Nuneaton.
#socialimpact
Fantastic day at @Jobs22ltd community Cafe. Everyone was able to meet charities, support organisations and employers around 4 themes we provide help with: Health, Life, Skills and Work.
#SocialImpact
New jobs stats show earnings growth remains strong (7.1%). But biggest rises in finance & business services (8.4%), lowest in lower paid sectors like retail & hospitality (5%). The crisis continues to be felt unevenly.
Comment from IES Director @tonywilsonIES on the just-announced Labour Market Statistics from @ONS. The full IES labour market briefing will be circulated later today, you can sign up for our email list here: https://t.co/LahAoGX2Wj