The latest Recruitment & Employment Confederation (REC) and Lightcast Labour Market Tracker has found there were 719,721 new job postings in August 2024 – a 3.2 per cent decline from the month before.
The figures are a result of a sluggish start to hiring in summer seasonal roles this year compared to 2023, although hiring picked up later in the summer. Overall, in the tourism industry when comparing August (end of summer) to May (beginning of summer) job postings increased by 6.3 per cent. The hospitality industry also experienced a late summer increase in job postings, up 5 per cent in August when compared to May 2024.
The tourism roles with the largest increase in job postings in August compared to May were Leisure and Sports Managers and Proprietors (15.5 per cent), Travel Agents (11.5 per cent) and Leisure and Theme Park Attendants (13.9 per cent). Hospitality roles with the largest increase in job postings in August compared to May 2024 were Restaurant and Catering Establishment Managers and Proprietors (8.4 per cent), Chefs (10.2 per cent) and Catering and Bar Managers (12.9 per cent).
REC’s findings reflect separate recent findings by advisory and accountancy firm BDO of a late summer tourism boost for the services sector in 2024.
“There is no doubt that the jobs market remains slow by comparison to previous years, with summer holidays also affecting the pace of hiring,” said REC Chief Executive Neil Carberry, “but there is little evidence of a sharp slowdown now. Firms are waiting for a clear signal on growth plans and the timing of potential additional cost challenges from the new government before making investment decisions, which makes the Budget next month a vital moment. Anecdote from REC members suggests that clarity on the timing and scope of both the Industrial Strategy and the Plan to Make Work Pay will also help to underpin decision-making and confidence.
“Consumer-facing sectors are particularly concerned about rumours of unwelcome additional challenges such as a rise in Employers’ National Insurance contributions,” Carberry added, “With sectors like hospitality and tourism struggling to adapt to a 20 per cent rise in the Minimum Wage over the past two years, a slower start to the summer on hiring in these sectors was no surprise. It is great news that that has picked up – but small businesses in these sectors need support, not headwinds on employment costs at this time.”
