“Today’s ONS Labour Market figures have again shown that the UK employment market remains subdued. As uncertainty persists ahead of the Autumn Budget, hiring decisions are being delayed, which is contributing to a fall in the number of vacancies.
“While the wider jobs market remains weak, skills shortages persist in key sectors. In London’s financial sector, there is a 4:1 demand to supply ratio for compliance and risk roles. This is partly down to retirement rates, but the skills shortage has also been impacted by a need for seasoned reporting and compliance experts as regulatory pressure mounts.
“It is imperative that employers invest in the talent that they have onboard to empower them with the skills and development opportunities to progress in their career paths as they seek security in an uncertain job market.”
