Happy New Year everyone! So, you’re curious about the state of UK job market in 2024, well you came to the right place. Buckle up and join us on a rollercoaster ride through the UK job market. Let’s see what we can expect in the coming year. Make sure your seat belt is securely fastened, because it will be filled with surprises, and possibly a couple loop-de-loops.
Supply and Demand: It’s a delicate balance
The UK labour market was flying high in 2022, and it spent most of 2023 descending. Whilst it is still airborne, it’s expected to descend further throughout 2024. The UK economy faces a challenging year, with the shadow of inflation still looming over us.
Job vacancies are declining from peak, but it is still quite a tight labour market by historic standards. This means hiring conditions are set to remain somewhat challenging. Industries such as technology and healthcare are crying out for qualified candidates. Whilst job seekers in other fields will need to try a little harder to catch an employer’s eye.
Wages are taking centre stage
The crowd cheers as wages rise! That’s right, UK job market is witnessing a very welcome surge in average wages. Companies are finally recognising the value of their talented workforce. There is a positive trend of employers not only offering competitive salaries but attractive perks and benefits to sweeten their deals. It’s a golden age for job seekers looking to cash in on their skills and experience.
2024 also brings with it the largest ever cash increase to the minimum wage. From April onwards, National Minimum Wage for 21 year and over workers will be £11.44 per hour.
A Global spotlight shines on UK Jobs
Interest in UK jobs from overseas has never been bigger. The numbers of international professionals eyeing opportunities in the UK job market are constantly growing. Thanks to the UK’s rich cultural tapestry, diverse job offerings, and the promise of a little adventure, it’s become a magnet for talent worldwide. Employers are embracing this global talent pot, with offerings of skills and experiences that would enrich their professional landscape.
Become the needle in the haystack
2024 brings with it several obstacles for our jobseekers. Obstacles such as skill shortages, increased competition, and the need for upskilling. Individuals are encouraged to level up their skills and embrace the option of lifelong learning. Both employers and candidates are on an uncertain paths for 2024, but the power is theirs to make it work.
We’re in the Matrix!
2024 is going to be see a massive spike in the need for digital proficiency. High-level computing skills will be highly sought after, with a massive rise in the tech-centric job market, with roles in Artificial Intelligence, cybersecurity, and data science stealing the spotlight. Job seekers, it’s time to dust off that ‘Programming for Dummies’ book and start honing those digital skills! Be prepared to dazzle employers with your technological prowess.
There you go, that’s our look at the 2024 job market – we don’t want to go on too long as we know it could all change! One thing however is certain, the job market may be challenging but that’s why we are here. If you’re a company struggling to find that ‘special one’ or you need assistance filling multiple roles on a temporary basis, we can help. Alternatively, if you’re looking to land that dream permanent role, or find some temporary work right away we can help with that too. Find your local Major branch now and let’s have a chat – nothing to serious, let’s just talk over what you’re needing and we’ll let you know how we can get you there.