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You may not believe it, but in the UK there are more applicants than job opportunities – HR

You may not believe it, but in the UK there are more applicants than job opportunities – HR

The number of job seekers is increasing at a time when there are fewer vacancies, indicating that uncertain economic prospects are affecting working life, according to the BBC.

Between December and February, 220,000 more people were found to be in this situation than in the previous three months, with unemployment up slightly and job offers down for the ninth consecutive time, data from British Office for National Statistics (National Statistics Office, National Statistical Office).

However, the numbers also showed an increase in the employment rate as more people returned to the workforce. Overall, economic growth in the UK has been stable since the spring of 2022, with the effects of higher energy prices and higher interest rates, along with strikes in many sectors.

In addition to this reality, companies also deal with economic hardship. In March, there was a sharp rise in the number of organizations declaring bankruptcy, by at least 2,457, compared to 1,784 recorded in February, according to the British Insolvency Service.

Inflation recently topped 10%, and remains near a 40-year high, as the latest earnings numbers suggest wage increases continue to lag behind price increases.

The difficulties are increasingly exacerbated, especially among the unemployed. Between November and January, the employment rate in the UK rose to 75.8%, and in the same period, the unemployment rate also rose to 3.8%, as opposed to 3.7% in the previous three months, according to the Office for National Statistics report.

The justification given by companies for the decline in job offers for the ninth time in a row is the fact that economic pressures prevent the recruitment of new employees.

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