Overview of the labour market in Leeds.
The Leeds City Region (LCR) economy has grown by about six percent (6%) over the past decade. This is in terms of output and a similar figure for the rate in household disposable income. During the same period household spending has outstripped growth in income in the LCR. The population of the LCR has grown about nine percent (9%) over the past decade. The working-age population has grown by about eleven percent (11%) over the same period in the LCR. Both of these rates have outstripped the national average. Economic activity rates have improved at a rate much faster over the past year in the LCR than that of the national average. The employment rate in the LCR is also increasing at a rate faster than that of the national average.
There are a number of notable specialisms in the City Region, especially in that of manufacturing. Ranked by their degree of specialism, fourteen of the top twenty sub-sectors in the LCR are within the wider manufacturing sector. The largest sectors of the LCR economy remain in health, manufacturing, education, and retail when they are ranked by total employment. Over the past twelve months, unemployment has dropped dramatically in the LCR. This is true of the rest of Britain as well. However, the rate of reduction in the LCR has outstripped the national trend. Youth unemployment also fell in the LCR to 53,000, which was a reduction of 8,600 by year-end December 2013. Currently youth unemployment stands at twenty-two percent (22%) of people ages sixteen to twenty-four.
Skills employers are demanding.
Employers throughout the United Kingdom fill out a survey that speaks to job vacancies that they deem hard to fill, skill shortage vacancies, and skills gap issues. The vacancies that are hard to fill are self explanatory, the skill shortage vacancies are due to the establishment of not being able to find candidates with the appropriate skills, qualifications, or experience, while the skills gap characterises employees who are not fully proficient, which means not able to do their job at the required level. In all of these cases, recruitment consultants in Leeds can assist both candidates and employers. They do this by matching candidates with the required skills and experience to the appropriate positions that are available with employers. The skills that are most in need and deemed difficult to obtain from candidates are technical, practical or job specific skills, planning and organisational skills, customer handling skills, problems solving skills, team working skills, strategic management skills, oral communication skills, written communication skills, literacy skills, numeracy skills, advanced IT or software skills, basic computer literacy and using IT, and foreign language skills. Part of the reason for this in the LCR may be due to the cosmopolitan nature of the labour market or the lack of internationalisation of the LCR businesses.
Job growth in the LCR.
The sectors that are forecasted to increase in the years through 2018 are as follows:
- Professional & other private services - 19%
- Public services - 3%
- Wholesale & Retail - 14%
- Manufacturing - 5%
- Finance & Insurance - 13%
- Construction - 15%
- Information & Communication - 14%
- Transport & Storage - 11%
- Utilities - 11%
- Accommodation, food services and recreation - 5%
It is expected that the LCR will create 42,000 new jobs in the years to 2015.
The forecast says the business services sector will lead the way, along with retail, hotels, and catering growing strongly as well. Though the health sector is currently the largest in the LCR, with over one hundred and seventy-five thousand people, or fourteen percent (14%) of the workforce, health is only expected to increase marginally over this medium term. Sectors like public administration and defence are forecasted to shrink by as much as twelve percent (12%) over the next five years. People in recruitment consultant jobs in Leeds will be able to help candidates for these expanding sectors match their skills with the positions that will be opening up as the economy in the LCR continues to grow. Recruitment consultants in Leeds will be playing the vital role, helping companies find the people who have those skills deemed difficult to find. Take advantage of the expertise that recruitment consultants offer and get a leg up in the labour market; find the job that suits your interests and abilities.