Redbridge sees number of job vacancies plummet
- Credit: PA
Redbridge has seen the number of local job vacancies plummet due to the coronavirus crisis, new figures suggest.
That is according to the Institute for Employment Studies, which collected data from Adzuna – one of the UK’s largest online job search engines.
The think tank warns many people struggling before the pandemic will now be even worse off, and says much more must be done to support livelihoods.
There were 423 job vacancies in Redbridge on June 14 – 38pc fewer than on March 15, the date the IES used as the benchmark for pre-crisis vacancy levels.
The figure was also 49pc lower than at the same time a year previously.
Across the country, the number of vacancies plunged to 367,000 on June 14 – 55pc lower than the 820,000 jobs advertised before the virus rocked the economy.
Tony Wilson, director of the IES, said: “We need to be doing much more both to support employment demand in the short term – for example by cutting employer National Insurance – and in the longer-term to support new industries and jobs.”
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The think tank also compared the vacancy data to Office for National Statistics figures on the number of people claiming work-related benefits, such as Jobseekers Allowance and some forms of Universal Credit.
It found there were around 46 claimants per vacancy in Redbridge in May, up from eight in March, although the ONS has cautioned that changes to Universal Credit due to the virus mean more people could get help while still being employed.
This was significantly higher the UK average of nine people chasing every listed job.
The IES report also found the ratio of claimants to vacancies was highest in ethnically diverse urban areas and ex-industrial communities.
Employment minister Mims Davies said: “We know it’s a challenging jobs market for many at the moment and some sectors have been hit particularly hard.
“That’s why we’ve taken unprecedented action to support our economy during this emergency, protecting millions of jobs and thousands of businesses through the furlough scheme, grants, loans and tax cuts.”
She added that levelling up opportunity will be “at the heart of the revival” of the economy.