Due to high inflationary pressures and recession fears, GlobalData’s UK Active Jobs Index has continued to fall by 18% month-on-month in November 2022. According to the leading data and analytics company’s Job Analytics Database, companies are closing 11% more jobs than new postings, resulting in a decline in the amount of active jobs open for recruitment.

Srinivas Rahul, Analyst at GlobalData, comments: “In November 2022, industries such as automotive, technology, and healthcare witnessed a decrease in job postings. However, other industries have seen a rise in job postings including banking and payments (by 23%), travel & tourism (19%), oil and gas (6%), and pharmaceuticals (5%).”

UK headquartered companies that witnessed an increase in job postings include Barclays Plc, Serco Group plc, and GSK plc. However, the amount of UK headquartered companies posting jobs in the UK has dropped by 12% when compared to the previous month. Non-UK headquartered companies posting jobs in the UK were Deutsche Bahn AG and Baker Hughes Co.

According to GlobalData, around 100 jobs were posted for newly created roles in November 2022. A few examples include ‘Global Marketing Director’ by Dr Martens Plc, which is responsible for developing and executing the global consumer marketing strategy for Dr Martens; JPMorgan Chase & Co’s ‘Managing Director, Data Solutions Operations’ role looks at implementing continuous data quality profiling capabilities to enable proactive identification.

Rahul concludes: “Around 10 companies announced layoffs in the UK during the month. For instance, Pilgrim’s Food Masters Holdings Ltd announced the closure of one of its UK sites, with 220 jobs at risk. Apparrel companies Lyst Ltd and ASOS Plc are also considering cutting jobs in order to reduce costs.”