GlobalData’s UK Active Jobs Index continued to fall by over 18% month-on-month in October 2022. Companies are closing 13% more jobs than new postings, reveals the Job Analytics Database of GlobalData, a leading data and analytics company.

The Office of National Statistics (ONS) October 2022 Job Vacancies stats are due for release on 15 November 2022 and GlobalData Active Jobs Index is in line with trends displayed by ONS.

Srinivas Rahul, Analyst at GlobalData, comments: “Active jobs in the UK declined across all the sectors in October 2022. Non-UK headquartered companies’ job postings fell by 19% in October 2022, compared to the previous month, while domestic hiring in the UK increased by 4%. The key UK recruiters are Frasers Group, Evans Cycles, Wm Morrison Supermarkets, JD Sports Fashion, and Stonegate Pub Company. Most impacted industries include banking and payments, retail, power, pharmaceuticals, and technology.”

According to GlobalData, around 130 jobs were posted for newly created roles in October 2022. Few examples by the UK headquartered companies are —‘Treasury Director – Citeline’ by Informa PLC; ‘VP of Client Solutions’ by GlobalWebIndex, the role looks at new business and account management, to achieve custom & strategic insight targets. Foreign companies hiring in the UK include ‘Head of Wholesale Marketing’ by Markel Corp for the creation and execution of the wholesale product marketing strategy in line with business plans; and ‘Business Development Manager’ from Deutsche Bahn AG.

Rahul concludes: “Companies continue to lay off employees in the UK. For instance, Siemens Gamesa laid off 2,900 employees as part of the implementation of its new business model, ARM Ltd laid off 40% of its UK employees, and Tesco laid off more than 300 employees due to rising inflation.”