The latest labour market and economic indicators show that the economy is growing and is now close to its pre-coronavirus levels. Despite acute recruitment difficulties remaining in many sectors and rising costs being passed through to prices, business confidence in the UK economy is risng, suggesting more positive expectations for the economy in 2022.
In Dorset we look back at the 2021 jobs market which was tumultuous but strong. Overall recruitment not only recovered but exceeded previous years. The aggregate vacancies advertised in 2021 exceeded 80,000 and were the highest on record. As businesses were trying to fill their increased demand, the moves back to work accelerated among those displaced by the pandemic, but the pace has slowed down in recent months and unemployment climbed up.
Check out Quarter 4 Highlights - presentation
Read full Dorset Labour Market & Skills Insights - Quarter 4 Report
Use the dashboard to explore the latest labour market developments. Should be read with the LMI during COVID-19 guidance.
In the Spotlight: Dorset Local Skills Report 2022 Launch
Coinciding with the launch of the Government’s Levelling Up White Paper, a new Local Skills Report was published for Dorset to tackle social inequality, increase productivity, and provide the skills needed for Dorset’s economy to thrive.
Key findings from the report will be discussed at a free lunchtime webinar on 1st March with speakers from local businesses and organisations. Book your free tickets. Skills 4 Now: Navigating the maze of the current labour market in Dorset
Chart of the Quarter: Productivity in Dorset
Labour productivity is lagging behind the UK with a widening gap costing our economy an estimated £3 billion in lost output per year. Recent findings suggest investment in innovation and learning could change this downward trend.
Future Career Corner: Apprenticeships
Apprenticeships offer 16% higher wages for disadvantaged apprenticeship achievers and in Dorset 91% of completed apprenticeships end in a sustained employment destination which is higher than the rate seen nationally. Apprenticeships also have the highest positive overall destination rate and average earnings 12 months after completion when compared to other learner pathways and are a win-win solution for employers as they directly respond to local economy and labour needs. Check out our Apprenticeship Finder to find current apprenticeship opportunities in Dorset.
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