Analysis of UK Labour Market and its Impact on Undergraduate Employability

Analyse the
UK labour
market
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Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
UK Labour market..................................................................................................................3
Discussion on response of businesses....................................................................................4
Suggestions for resource and talent planning.........................................................................5
PART 2............................................................................................................................................5
Challenges for undergraduates...............................................................................................5
Recommendation for responding to the challenge.................................................................6
CONCLUSION................................................................................................................................7
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INTRODUCTION
The labor market is defined as the job market which support supply and demand of labor
where labor is provided to employers according to the demand (Bradley, Migali and Navarro
Paniagua, 2020). Labor market economics focuses on understanding the functioning and
dynamics of labor market in terms of which labor. The term labor is defined as the commodity
which is supplied by laborers in exchange of which paid by businesses. This report looks at the
changes in United Kingdom labor market and its impact on employability of undergraduates. the
challenges faced by undergraduate employees are explained in this report along with the
suggested response to the labor market changes in United Kingdom.
PART 1
UK Labour market
After the pandemic one of the primary trains on labour market is high demand of labour
which low supply. This has prompted many businesses to raise pay and offer more flexible
working employment to employees. The median basic pay award in last quarter are expected to
rise by 3%. The challenge which affects the labour market is the inclusion forecasted by Bank of
England which can lead to real time packets by April of 2022.
In the year 2022 the net employment balance which provides measurement of difference
between employers expecting to increase staff levels in the next three months and those
expecting to decrease staff level remind at +37 (Labour Market Outlook surveys, 2022). This
trend showcases positive impact for employees as it is one of the highest figures on record in
recent years and this primarily being driven by the private sector. Skilled employees will be able
to gain employment in the private sector because of such high demand for labour.
According to survey almost half of employers have hard to fill vacancies which require
highly skilled individuals. The sectors in United Kingdom which are affected by large number
of hard to fill vaccines include healthcare public administration and public sector along with
construction. Skill development in context of these industries can help individuals gain
employment add prominent positions quickly.
The UK labour market includes both insecure and atypical work along with secure jobs
which include diverse ways of working. It is analyse that instead of eliminating certain types of
contract from the labour market choice and job quality has been improving in the past decade.
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