Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

UK job ads climb, consumers spend more as COVID restrictions ease

Published 13/05/2021, 09:49
Updated 13/05/2021, 11:07
© Reuters. FILE PHOTO: People shop at market stalls, with skyscrapers of the CIty of London financial district seen behind, amid the coronavirus disease (COVID-19) pandemic, in London, Britain, January 15, 2021. REUTERS/Toby Melville

LONDON (Reuters) -Online job adverts are on the rise in Britain, pushed up by the reopening of pubs and restaurants and other hospitality firms, and consumers are spending more money on dining out and on travel plans, data published on Thursday showed.

Online job adverts hit 107% of their pre-pandemic February 2020 level on May 7, up by four percentage points from two weeks earlier, figures from jobs website Adzuna showed.

Most sectors saw an increase in job ads with the biggest rise in hospitality, which has seen a 46 percentage-point leap in job ads since early April - before the sector reopened for outdoor customers.

Indoor service is due to resume on Monday, representing a big boost for the industry which has been among the hardest hit by the pandemic and the government's lockdowns to slow it.

There was also strong demand for workers in transport, logistics and warehousing which rose by 18 percentage points over the two weeks to May 7 to 235% of its February 2020 level, adding to a rise since the start of the year.

"It is thought that jobs within this sector are taking longer to fill and accumulating, which is contributing in-part to the higher overall vacancy numbers for this category," the ONS said.

Other figures published by the Office for National Statistics on Thursday showed spending on British credit and debit cards in the week to May 6 was 106% of its February 2020 level, up from 99% a week earlier.

The ONS said the figures showed consumers were spending more on travel, eating out and other activities that are being freed up from coronavirus rules.

The Bank of England expects a rise in spending by consumers, who accumulated savings during lockdowns over the past year, will help drive growth of more than 7% in Britain's economy in 2021 after its almost 10% slump in 2020.

© Reuters. FILE PHOTO: People sit at outside a restaurant area, as the coronavirus disease (COVID-19) restrictions ease, at Covent Garden in London, Britain April 12, 2021. REUTERS/Henry Nicholls

The proportion of the workforce on the government's job-protecting furlough scheme was 11% in the period between April 19 and May 2, down from a previous reading of 13%, the ONS said.

A net 7% of 34,940 firms surveyed by the ONS reported an increase in turnover in March compared with March 2020.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.