The UK Job Market: Shifting Focus

Despite recent political uncertainty, the UK job market is booming. More than 32 million people work across the country, with unemployment rates at their lowest levels since 1975. But where are all the jobs coming from?

RS Components has analyzed 30 years of ONS data to reveal which industries are creating the most jobs in today’s vibrant market, and there are clear winners and losers.

The industry that has grown the most since 1987 is Real Estate which, although a relatively small industry overall, has enjoyed a whopping 142% increase. Considering the soaring price of property and the huge demand for homes it’s hardly surprising that jobs in Real Estate are growing.

Science and Technology takes second place, in the highest job growth rankings, adding just over 1.6 million jobs to the UK market since 1987, a percentage increase of 130%. The industry has seen huge growth since the tech boom of the 90’s and 00’s and is continuing to thrive as the UK cements itself as a global leader in the industry. Administrative roles and positions in Information & Communication have also seen very healthy increases adding a combined 2.3 million jobs to the UK economy over the last 30 years.

PREMIUM CONTENT: US Jobs Report July 2018

Of the 19 industries categorized by the ONS, the five with the biggest percentage increase in jobs were:

  1. Real Estate: +142%
  2. Science & Technology: +130%
  3. Administrative: +122%
  4. Information & Communication: +91%
  5. Healthcare: +74%

Sitting at the bottom of the infographic are the industries that have failed to provide fresh roles in recent years. Unsurprisingly, Mining & Quarrying has seen the biggest percentage decrease in vacancies, with jobs falling 69% since 1987. Although still a major industry in the UK job market, Manufacturing is seconded biggest jobs loser, shedding almost 2.3 million positions over the last three decades, no doubt partly due to huge developments in automation.

The five industries with the biggest decrease in jobs were:

  1. Mining & Quarrying: -69%
  2. Manufacturing: -46%
  3. Electricity, Gas & Air Conditioning Supply: -29%
  4. Public Admin & Defence: -21%
  5. Agriculture, Forestry & Fishing: -20%

It’s clear from the last three decades of job data that the UK is changing focus, slowly shifting from the industrial Britain of old to the services and tech Britain of the future. But which industries will survive the next thirty years?

Vishal Chhatralia
Vishal Chhatralia is vice-president of digital marketing at RS Components.

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