As per the UK Office for National Statistics, the UK unemployment rate was estimated at 4.0% for the second quarter of this year, which is 0.2% higher than the previous quarter.
The job market in the UK is suffering a sharp decline. The experts believe the crisis has been caused not only by the general economic recession but also by a shortage of talent on the market. According to the report by the Broadbean Technology firm, a fall in the number of open positions is accompanied by a 30% decline in the number of applicants. The shortage of staff is extremely sharp in engineering, science, architecture, hospitality and catering, as well as health services.
Alex Fourlis, Managing Director at Broadbean Technology, explained:
“Although the market is slowing down, the skills crisis is far from over. The UK simply doesn’t have enough of the highly trained and highly skilled professionals it needs to fill the demand. It’s imperative that employers stay focused on the skills agenda and continue to invest in talent attraction and development if they are to grow their competitive standing.”
He further added:
“The lack of candidates isn’t going to be solved overnight and is already a big issue for firms. Those that can get in front of the right people quickly, and via the right channels, will be the ones in a prime position to win the war for talent.”
As per the UK Office for National Statistics, the UK unemployment rate was estimated at 4.0% for the second quarter of this year, which is 0.2% higher than the previous quarter. Reed Recruitment has reported a 24.40% fall in the number of advertised positions over the past three months in comparison to the previous year. Notably, the number of available jobs is below the pre-pandemic era.
UK Crypto Companies Posting New Job Offers
Meanwhile, crypto companies located in the UK are publishing new job offers and actively looking for employees.
For example, the Gemini exchange is looking for a Compliance Associate at its UK office. Coinbase Inc (NASDAQ: COIN) is hiring the Head of Mobile Business Development and International Policy Manager.
Further, Ripple is seeking Employment and Litigation Counsel to provide strategic legal advice and counseling globally on a broad range of employment law matters. The company is also in need of an Executive Assistant based in London. Recently, it won a court ruling in the US against the Securities and Exchange Commission (SEC).
Following the victory, the company applied for registration as a crypto asset firm with the UK’s Financial Conduct Authority and for a payment institution license in Ireland. Now, Ripple is definitely planning to expand its footprint in the UK. Over the past 18 months, Ripple has increased its UK and European employees count by about 75%, with over 100 of its approximately 900 global employees based in its offices in London, Dublin, and Reykjavik, Iceland.
Crypto trading company Robinhood Markets Inc (NASDAQ: HOOD) is also moving forward with plans to launch in the United Kingdom. As we have reported, the company has appointed former Barclays director Jordan Sinclair as its UK arm’s CEO. Among the jobs posted by Robinhood on LinkedIn are a senior risk and compliance associate, a compliance officer, and an operations lead, all based in London.