During the early part of the pandemic, there were four unemployed people for every vacancy in the UK, according to an article in The Guardian. Now the ratio is one for one. Economists say the explanation for the current strength of the labour market is simple: demand for workers has been going up at a time when their supply has been limited. On the demand side, the reopening of the economy as the pandemic loosens its grip has meant stronger competition for staff. On the supply side, a combination of factors means the labour force is smaller than it was expected to be pre-Covid.
Stephen Evans, chief executive of think tank the Learning and Work Institute, says there are 1.1 million fewer people in the workforce than there would have been had pre-pandemic trends continued. A third of that is because the population is smaller, as more people have left the UK and fewer people are coming in. This has exacerbated employment pinch points in sectors such as hospitality. Another reason for the drop is that young people are spending longer in education. The biggest cause of the drop, however, is older workers — those aged 50 and over — leaving the workforce altogether.
Research by City & Guilds suggests there will be 3.1 million key worker openings in the next five years, but only around a quarter of UK citizens would consider taking up jobs in sectors such as food production or logistics. Low pay is one factor deterring them; lack of relevant skills, experience or qualifications is another.
Read more at It’s not quite the Black Death, but worker shortage hits UK firms hard | The Guardian.
Post-pandemic, Japan is focusing on recovery and growth, according to the Hays Japan Top Ten Trends for 2022. A pronounced increase in hiring across most, if not all sectors, is anticipated with different working models taking root and roles evolving in anticipation of new needs. Among the trends that surfaced in the report are:
- Hyperfocus on cyber and information security will push up the demand for product vendors and service providers within the space, as well as for existing job functions like Security Engineer, Incident Response Engineer, Security Leader and Information Security Manager.
- Demand for data centres is on the rise as digitalisation becomes more ubiquitous in Japan and more businesses adopt the cloud. As the local market is typically short of qualified candidates in this sector, hiring levels will pick up once work visa restrictions are eased for non-Japanese talent.
- Sales functions in multiple sectors are seeing a revival, with many companies looking to strengthen their sales teams with both replacement and new vacancies.
Download the full Hays report to learn about other trends affecting hiring in Japan at Japan’s Top Ten Talent Trends for 2022 | Hays Japan.
Fluctuations and uncertainty about the predictability of global supply chains have impacted the Canadian supply chain industry. An article from the MacMillan Supply Chain Group, outlines the current condition of the Canadian Supply Chain market and offers suggestions to help businesses navigate the current uncertainty. The article demonstrates that some aspects of the Canadian market have recovered, while others are still struggling.
Increasing inflation has affected the supply chain industry and impacted how fast and efficiently goods can be moved from one location to another. Labour shortages across Canada brought on by such factors as an aging workforce retiring, the search for more flexible jobs and not enough people meeting job requirements are also impacting supply chain disruption.
With the increase of globalization (changing cross-border agreements), supply chains across the globe are seeing strong fluctuations. Some countries have regulations and restrictions in place that restrict the movement of goods, while others have more “open borders” that allow for a better flow of goods. Until better globalization protocols have been established, decision makers working with supply chains can expect to see fluctuations in efficiency.
Read more at What Supply Chain Issues Is Canada Facing in 2022? | MacMillan.