UK, post-Brexit lack of workers: the chart of the week

First the pandemic, then Brexit, inflicted a particularly violent one-two onjob offer.

With the’health emergency and the blocking of economic activity, several foreign workers took the opportunity to return to their countries of origin. Others have reassessed the cost-benefit, also in terms of care for loved ones, work performance and many have benefited from the government schemes (terminated at the end of September) of layoffs.

Furthermore, it should not be forgotten that in many there are, because they are positive, a not be able to perform, for shorter or longer periods, working activity.

In this context came the Brexit, which has made it more difficult to stay, return or relocate to the UK (which has also lost its appeal in recent years).

This mix of causes has brought the index that measures vacancies to levels not seen from 20 years.

United Kingdom: vacancy index at the highest since 2001

According to numbers released by the Office for National Statistics (ONS), vacancies in the UK between July and September stood at 1.1 million. This is the higher since 2001.

The sectors most affected are those related to accommodation and catering, to professional and manufacturing activities. Out of 100 workers, hospitality is the sector with the highest number of vacancies. At a cyclical level, the greatest increase was recorded in the retail sales sector and in the motorcycle repair sector.

The contraction in the workforce has pushed up the unemployment rate (given by the ratio between the number of job seekers and the total workforce) from 4% in the pre-pandemic to the current 4.5%.

The shortage of workers is favoring one wage growth which, increasing by 15-20% in some sectors, is contributing to the rise in consumer prices.

On average, the ONS calculates, compared to a year ago wages between June and August they increased by 6%.

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