Why are 1.5m looking for work when there are 1.2m vacancies?

BRITAIN is facing a jobs ‘paradox’ with unemployment stuck above pre-pandemic levels despite record vacancies.

There were 1.2 million jobs available last month but the unemployment rate for June to August of 4.5 per cent, means there are still some 1.5 million looking for work. Although the rate fell from the 4.9 per cent in the previous three months, it is still above the pre-pandemic level of 4 per cent.

Faced with the baffling picture of record job adverts and high unemployment, experts warned of a ‘vacancy paradox’. They say that much of the demand is for roles such as lorry drivers and health and social care workers, who need specialist training and are in short supply.

Kitty Ussher, chief economist at trade body the Institute of Directors, said: ‘Businesses will be looking to the government to prioritise lifelong skills and retraining to help them find the teams they need to expand and grow.’ Chancellor Rishi Sunak said: ‘We remain committed to helping people find great work, with an extra £500million to support hundreds of thousands back into employment.’