The latest Office for National Statistics (ONS) labour market figures are showing no easing up of the number of vacancies, creating a headache for employers and a real barrier to economic growth.
Businesses are crying out for people to fill job vacancies at all skill levels, and this must be the number one focus for government if it’s serious about economic growth.
There are still a huge number of vacancies, currently sitting at 1.134 million, and this is stopping firms in their tracks.
And it was announced by Staffordshire County Council this week that the number of job vacancies in the county has increased to more than 30,000 – up nearly a third in just a month.
Latest figures show that in Stoke-on-Trent the number of unfilled positions had leapt by 34 per cent to 8,700. This is just above the number of work-related benefit claimants (8,510).
In the rest of Staffordshire, the number of vacancies jumped up 26 per cent to 21,900 between December and January compared to the previous month. This is far higher than the number of work-related benefit claimants (14,700).
It means firms are struggling to meet the orders on their books, and it puts any plans for growth far out of reach.
I have heard this message from many businesses in our area who are also seeing the effect this pressure is having on wages, currently at the highest rates seen in the private sector outside of the pandemic. However, a sharp rise in rates of pay is still being outstripped by inflation. This has been identified by the Bank of England as a factor in its decisions to raise interest rates to tame inflation.
Government plans to get the UK’s untapped labour force into employment are a step in the right direction, but we need to see more action to address the barriers that are holding people back.
The Spring Budget represents a golden opportunity for the Chancellor to ease the pressure on family members who have been squeezed out of the labour market by punishing childcare costs.
Older workers need carefully tailored careers advice, job seeker support and rapid re-training opportunities to help bring their skills and experience back to the workforce.
Businesses can help by adopting flexible working policies wherever possible and supporting staff training needs.
And crucially, something I mentioned only last week, Government should reform the Shortage Occupation List to help firms fill urgent job vacancies from outside the UK when they cannot recruit locally. The List should include jobs at all skill levels where there is clear evidence of a national shortage.
The full ONS labour market statistics can be viewed here: Labour market overview, UK – Office for National Statistics (ons.gov.uk)
If you would like to raise any issues around employment difficulties contact our policy advisor Declan Riddell: declan.ridell@staffordshirechambers.co.uk
Better news now – Severn Trent are offering free water-efficiency audits for businesses to help make sure their water facilities are up to date and not leaking.
The initiative is part of Severn Trent’s Green Recovery Programme , offering businesses the chance to check their facilities are working efficiently and, where any upgrades or repairs are needed, the company will fix internal leaks free of charge.
Severn Trent, which serves thousands of firms and homes across Staffordshire and beyond, says a typical leaky toilet or dripping tap could cost a business up to £300 a year.
They understand many businesses are facing uncertainty and upgrading their water facilities may not be on the top of a business’s list of priorities. It is pleasing therefore that they are offering to do all of this at no charge.
Severn Trent will undertake a full ‘health’ check of the water facilities, and make sure money is not being wasted, and that your business is running as efficiently and watertight as possible.
Businesses often lose money through urinals, which often flush regardless of use. By installing sensors, savings of up to £3,000 could be made depending on business size. Also fixing something like a leaky toilet could save up to 400 litres of water a year, which would be money businesses would pay for, but not be using.
For more information, and to sign up click here: Supporting Local Businesses | Green recovery | Wonderful on Tap | Severn Trent Water (stwater.co.uk)
If you want to talk to us about any business issues, including funding, you can call our switchboard on 01782 202222 or call the Stoke and Staffs Growth Hub Helpline on 0300 111 8002 or email: info@staffordshirechambers.co.uk
You must be logged in to post a comment.