Business

In Britain, there are 900,000 job openings. Businesses are searching overseas for employees.

Harper Colin
Harper Colin
In Britain, there are 900,000 job vacancies. Businesses are searching overseas for employees.
UK United Kingdom visa in passport

In 2024, there will be over 900,000 open positions in the British labor market. According to The Telegraph, experts from the National Institute of Economic and Social Research (NIESR) caution companies are actively seeking out foreign workers instead of British workers.

NIESR reports that over 9 million people of working age have left the labor force since the pandemic began and that the number of economically inactive people in Britain has increased by 884 thousand since then. Despite a 6.5% wage increase in the labor market over the past year, over 5 million of them receive social benefits and are not in a rush to find employment (data for November 2023). The Home Office reports that the number of first-time work visas issued last year was 169,000, which is 50% more than it was before the pandemic. Additionally, the number of companies registered as sponsors has increased to 76 thousand, more than double what it was in 2021.

According to experts, to encourage British citizens to return to the workforce, wages must be increased further and the income threshold—which is currently 12,571 thousand pounds and usually increases by inflation—must be unfrozen. Due to wage increases and the tax being frozen at the 2022 inflation peak, many people are now required to pay more than anticipated.

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