World Morning Star
Labour market ‘grinding to a halt,’ study suggests
MORE workers have not moved jobs in recent years, suggesting the labour market is “grinding to a halt,” according to new research today. Jobs site CV-Library said the jobs market appeared to be stuck
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Jobs site CV-Library said the jobs market appeared to be stuck amid a fall in new vacancies.
The rate of people moving directly between jobs has fallen by 28 per cent compared with 2022, according to the site’s analysis.
CV-Library said its research also found that just 37 per cent of jobseekers are optimistic about job opportunities.
The site warned that economic stagnation and weak business confidence were creating a “vicious cycle” of fewer new opportunities so that employees were less willing to change jobs.
Lee Biggins, chief executive of CV-Library, said: “Britain’s workforce isn’t necessarily staying put because it’s happy. It’s staying put because there are fewer places to go.
“We’ve become accustomed to measuring the health of the jobs market by the number of new vacancies being created, but that’s only half the story.
“A thriving economy also depends on people moving between existing jobs, creating opportunities for others to progress, change careers or enter the workforce.
“Right now, weak business confidence is suppressing both.”
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