Construction must respond quickly to the fast growing number of vacancies

Chloe McCulloch

Job vacancies grew faster than in any other sector in the UK economy in Q1, and there’s an elephant in the room no one wants to talk about

A balmy, sun-filled Easter bank holiday weekend was as welcome as it was unusual for those Brits able to take time off from the daily grind. And let’s be frank, the economic and political backdrop means most of us felt the need for a break, even if it just meant switching off the app notifications on devices that dictate the pace of modern working life.

One of the positive after-effects of the pandemic appears to be that we are more open about the impact of stress on our lives, and are talking about mental health and wellbeing with more confidence than before. And it looks like we will need to continue supporting each other in these ways because external pressures just keep mounting.

UK businesses are expecting profits to be squeezed as their costs spiral due to painful inflation, soaring energy prices and global uncertainties such as the war in Ukraine. Surveys out this week by Deloitte and BDO pointed to the prospect of slowing growth and businesses taking on more debt in order to survive. Meanwhile, the IMF has warned that Russia’s invasion of Ukraine will hamper global recovery and hit the UK harder than most: next year growth is forecast to be the slowest in the G7, at just 1.2%, while inflation is set to be the highest at 5.3%.

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