Job Vacancies Up, But Competition Intensifies
- Hiring in the retail industry is picking up with a 27.1% increase in job vacancies advertised month-on-month
- Job applications for retail positions fell by 13.3% and 51.6% compared to last year
- Retail job vacancies are down 82.8% from last year
- Competition for available jobs is intensifying with 181.4% more applications per vacancy than last year
- CEO of CV Library warns that recovery will take time and employers should focus on recruitment and retention efforts
The retail industry is experiencing a surge in job vacancies, with a 27.1% increase in advertised positions from April to May, according to CV Library’s data analysis. However, applications for these jobs have also dropped by 13.3% and 51.6% compared to the same period last year. Year-on-year figures show that retail job vacancies are still down 82.8%. As the market recovers, competition is intensifying with 181.4% more applications per position than in 2019. Lee Biggins, CEO of CV Library, warns that while progress is being made, businesses must prioritize recruitment and retention strategies as the furlough scheme comes to an end.
Factuality Level: 8
Factuality Justification: The article provides accurate information from a reliable source (CV Library) and presents objective data on job vacancies in the retail industry. It also includes relevant quotes from an expert in the field. However, it could have provided more context about the overall labor market situation to give readers a better understanding of the retail industry’s position within the broader economic context.
Noise Level: 3
Noise Justification: The article provides relevant information on the current state of the retail job market during the pandemic and includes insights from a source within the industry. It also offers some analysis and predictions for the future. However, it could benefit from more data or examples to support its claims and provide actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses the impact of the coronavirus pandemic on the retail industry, job vacancies, and hiring in the UK labour market, which has financial implications for companies and employees.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
www.retailsector.co.uk