As we approach the final stage of the roadmap out of lockdown, businesses across the UK are looking for signs that the economy is on the road to recovery. This is particularly true for any companies operating within the leisure, tourism and hospitality sectors, as they have undoubtedly been the hardest hit by the coronavirus pandemic.
With this in mind, CV-Library analysed the latest job market data for these industries to understand how the re-opening of these sectors on 17th May has impacted businesses in real-time.
The findings compared the number of job postings and applications in the month immediately preceding the 17th May (17th April to 17th May) to the month prior (17th March to 17th April). The results were overwhelmingly positive, with the number of job postings in the leisure, tourism and hospitality sector rising by a staggering +52% month-on-month.
This clearly shows that businesses in the sector are raring to go and have confidence that the UK will continue to follow the proposed timeline out of lockdown, as laid out by the government. This show of confidence can only be good news for the UK economy, after more than a year of uncertainty.
When considering the number of applications made over the same time frame, the results are less exciting. Indeed, the number of applications remained stable month-on-month, witnessing a meagre drop of only ‘0.4%.
This result is hardly surprising, as job seekers have consistently been more cautious than employers throughout the pandemic – particularly when new restrictions come into effect. With so many UK workers forced into furlough schemes or made redundant in the last 18 months, it’s understandable that candidates are erring on the side of caution when it comes to finding a new role.
What’s more, it’s important to remember that the leisure, tourism and hospitality sector rely heavily on seasonal trade. As we are still at the very start of the summer, and the sector has only just re-opened to the public, candidates may be waiting for the season to get underway properly, before applying for roles. We fully expect that applications will continue to increase in the coming months, especially as students finish their studies and start to look for work.
These initial results spell good news for employers in the leisure and tourism industry. After so long in lockdown, the country is desperate to get back out into the world and enjoy the sunshine. It’s clear that business owners have recognised this demand and are looking to hire staff accordingly. While it may take a couple of weeks for applications to catch up, these findings show that the economy is finally on the road to recovery.