So the government doubled its army of so-called work coaches who help people with unemployment benefits to find a job. It hired 13,500 more coaches, a larger force than it hired after the Great Recession in 2008.
Finally, the fallout was much less severe. After the UK Treasury extended the vacation program, unemployment peaked at 5.2 percent in December and is now 4.7 percent.
“This has been a very rapid recovery,” said Dan Taylor, general manager of Morgan Hunt, a recruitment company that helps fill positions in approximately 600 organizations, mostly in the public sector.
In six months, the company went from “finding jobs for candidates who are registered with us to a situation where we simply cannot find the specific skilled and experienced people we need,” said Taylor. “I’ve never seen anything move as fast as this.”
Last month, Bank of England Governor Andrew Bailey highlighted the changing problem in the country. “The challenge of avoiding a steep rise in unemployment has been replaced by ensuring a flow of labor into jobs,” he said. “That is a crucial challenge.”
Some industries are trying to buy their way out of this problem. Trucking, warehouse, and logistics companies offer bonuses of up to £ 5,000 (nearly $ 7,000) to people who can get started right away.
When Morgan Hunt helped a public housing association hire a senior firefighter on a salary of £ 90,000, or about $ 125,000, two people were ready to take the job – until a department store chain snatched them after offering much higher wages, Mr. said Taylor. This created a dilemma because it is difficult to quickly expand the pool of candidates for a highly qualified job when less experienced employees are hired.