If you are looking for a new job in Britain, it is probably not the one you are thinking of.
A study released today by the British Chambers of Commerce (BCC) has found that the number of job vacancies in the country is at its lowest level in over a decade.
Job vacancies have dropped from 6.4 million in May 2016 to just 3.4 per cent of the workforce, with vacancies in both professional and technical roles still at their highest level in the last 10 years.
The findings are based on the latest available figures and are being published in the latest edition of the CBM Business Outlook.
The survey also shows that the UK is now a nation of graduates with a high proportion of graduates working in the private sector, with around a quarter of graduates in the service sector.
In 2017, almost 10 per cent more graduates were working in government, with another 3 per cent working in civil service.
UK employment rates are now at their lowest level since records began in 1973, the survey found.
Overall, UK job vacancies have fallen from 10.9 million to 6.3 million, with just 2.3 per cent having found new jobs in the past year.
The figures are not only a blow to the job market, but also to the government, as a record 5.9 per cent unemployment rate has now hit the UK.
The report also found that there has been a decline in overall employment.
The total number of jobs in Britain has decreased by 8 per cent, from 9.3 to 8.9.
However, the proportion of jobs that are public sector has increased by 2.4 percentage points, from 27 per cent to 32.9, and that of the private sectors has increased from 9 per cent at the start of the decade to 11.9 now.
This suggests that the government is having a difficult time getting the numbers right in the job markets.
This is partly down to the high level of demand for jobs in technology and science, which has led to the creation of more private sector jobs than government.
The CBI’s latest figures also show that the labour market is in an overall better position than the previous year, with overall unemployment rates down to 5.4 percent and job vacancies up from 6 per cent.
There are still significant gaps in the labour markets, with a lack of a strong national recovery, and there is also a lack for skilled migration.
It is estimated that in 2017 the UK had around 8 million jobs available for people to fill.
However that is just 3 per year, according to the BCA.
The government’s plans to tackle the shortfall in skilled migration are also under pressure.
While the government has said that it will take up to five years to get a skilled migration scheme in place, it said that its intention is to have a skilled workforce within two years.
It will also look at other measures to improve the skills of the population, including the introduction of new apprenticeships and new schemes that would allow people to take up jobs at a higher rate, and allow employers to hire more people.