Research has shown that the increase in demand for staff to occupy job positions had affected the salary inflation rate in almost 24 years of data collection. Notwithstanding, the occurring unpredictability of job-seeking candidates decreased to the second-fastest rate in the study’s history in July.

    The number of available job-seeking candidates has continued to decrease rapidly in July because of post-COVID19 related issues, Brexit issues, and a low unemployment rate. Many sectors' demand for workers increased to its highest rate for more than 23 years due to the easing of COVID-19 restrictions and reopening of different sectors. Still, the number of job-seeking candidates available to take up the job decreased at the quickest rate due to the factors mentioned earlier and more.

    A rising call to the government and firms to rectify this issue has been made. The IT sector has fallen short of workers, with the hospitality sector not left out of this ravaging issue. Hiring activity has increased across all jobs category, but skills and labour deficiency, which existed before the COVID-19 pandemic, are skyrocketing at a higher rate than expected. This simply implies that most companies and sectors will need to review the benefits and pay packages they offer to new employees at a time they’re struggling to recover financially from the COVID-19 pandemic. This particular depressing issue in the job market right now can potentially slow down the economic recovery process, negatively impacting the UK economy if left unaddressed.

    Furthermore, the Brexit issues coupled with the impact of the pandemic have created a significant challenge for all sectors. Before the Brexit, a lot of the UK hospitality workforce was made up of workers from overseas, including the EU. Still, hundreds of thousands of foreign workers have left the UK over the last year, and it is not confident whether they’ll return.

    Proffering sustainable solution to this depressing situation that have engulfed the job market and UK economy is of high essence. Government policies and schemes like Kickstart should be encouraged, and an immigration policy that meets the demand of job-seeking candidates outside the UK should be advocated.

    Additionally, employers should add juicy incentives and increase starting salaries of new employees; this will go a long way to attract potential job seekers. Starter salaries increase because of the shortage of job-seeking candidates, and skills shortage have been with us for a while now. If drastic actions are not taken, it will keep rising uncontrollably.