Hopes of V-shaped bounce grow as va­can­cies at 62pc of last year’s

The Daily Telegraph - Business - - Business - By Tim Wal­lace

HIR­ING is back as the econ­omy re­opens and bosses take on more staff, rais­ing hopes of a jobs re­cov­ery af­ter months of pain dur­ing lock­down.

More than 1.1m po­si­tions are avail­able in Bri­tain ac­cord­ing to the Re­cruit­ment and Em­ploy­ment Con­fed­er­a­tion (REC), in­clud­ing an ex­tra 125,000 new post­ings in the past week.

The fig­ures will boost econ­o­mists pre­dict­ing a rapid “V-shaped” bounce back. They were re­vealed as US data showed that the num­ber of peo­ple be­ing laid off each week across the pond is con­tin­u­ing to fall.

Back in the UK, on­line ad­verts for va­can­cies now stand at 62pc of their 2019 level – up from just over half in late July and a low of 42pc in May, ac­cord­ing to the Of­fice for Na­tional Statis­tics (ONS).

Pre­vi­ously closed in­dus­tries are bring­ing back fur­loughed work­ers af­ter be­ing al­lowed to restart, with growth build­ing in arts, en­ter­tain­ment, pubs and restau­rants as the na­tion inches back to nor­mal­ity.

Fewer than 14pc of all pri­vate sec­tor staff are now paid to stay at home through the tax­payer sub­sidy scheme, down by more than half from the peak sev­eral months ago.

Over 19 in ev­ery 20 busi­nesses are now open or plan­ning a re­turn within weeks. De­mand is surg­ing for builders, gar­den­ers and lorry driv­ers, the REC found, as well as child­min­ders – and, less re­as­sur­ingly, debt col­lec­tors.

It came as the num­ber of new job­less claims in the US slowed again to 963,000 last week, the first time since the pan­demic struck that the key in­di­ca­tor has fallen be­low 1m. The drop is big­ger than econ­o­mists ex­pected and down from 1.2m for the pre­vi­ous seven days.

Ly­dia Bous­sour, of Ox­ford Eco­nom­ics, said it was an en­cour­ag­ing sign and sug­gests the jobs re­cov­ery is re­gain­ing mo­men­tum fol­low­ing a dam­ag­ing sec­ond wave of in­fec­tions that forced states such as Cal­i­for­nia, Florida and Texas to rein­tro­duce re­stric­tions.

How­ever, she pointed out that 28m work­ers are still claim­ing some form of job­less ben­e­fit in a sign of the moun­tain fac­ing Amer­ica’s econ­omy.

Be­fore the pan­demic, around 200,000 new claims were typ­i­cally made per week.

Mean­while in France un­em­ploy­ment fell by 271,000 in the sec­ond quar­ter, but this was mainly be­cause large num­bers of job­less have given up look­ing for work and so no longer qual­ify as of­fi­cially “un­em­ployed”.

The em­ploy­ment rate dropped from 66pc to 64.4pc, ac­cord­ing to French of­fi­cial agency Insee.

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