Work and employment trends for 2024

As we look at the year ahead, the expert team at Work Avenue have picked out five employment trends in our British Jewish community and beyond.

While each industry, and indeed each job, is very different, having an overview of the current market will help greatly with your job search – as will coming in and seeing one of our advisers.

Our team can help with all aspects of finding a job, gaining promotion or changing careers including free one-to-one sessions, workshops, seminars and in-work support. Just contact us by clicking here.

Trend 1: The market is slowing down

After a strong 2023 for vacancies, including those advertised on our Jobs Board, we have noticed the number decreasing as we enter 2024.

Work Avenue’s Job Placement Manager Yael Shainfeld explains: “The recent Labour Market Overview from the ONS (Office for National Statistics) found that the UK job market is slowing down, and this is reflected in what we are seeing at Work Avenue.

“That is compounded by redundancies at more senior levels, with those roles not being replaced, and an increase in the National Minimum Wage and National Living Wage rates meaning some small business can no longer afford to recruit as they were before.”

Trend 2: Wages are rising

The cost of living crisis has meant a real need for an increase in wages and, in many places, that has been happening.

The ONS overview found that annual growth in employees’ average total earnings was 6.5% in September to November 2023. Even adjusting for inflation, the ONS found that to be a rise of 1.3%.

As explained above, higher wages can mean less new jobs being created – but it is worth keeping in mind in regards to salary expectations when searching for your next role.

Trend 3: Brand new job roles are appearing

Each year, LinkedIn conducts a Jobs on the Rise list, a ranking of the 25 fastest-growing roles over the past five years. Even though the list is based on data from the US, the results are just as applicable here in the UK.

The most interesting thing about this year’s study is that more than two-thirds (68%) of the positions didn’t even exist 20 years ago. These include roles such as those responsible for sustainability, diversity and inclusion, growth and AI (see trend 5).

Trend 4: Popularity changes

The roles employers in our community, and beyond, are seeking to fill changes.

Right now, with our clients, we are seeing a growth in popularity of marketing, admin and operational positions – while some previously popular job areas have seen a fall off.

Trend 5: AI is becoming key

AI, automation and digital tools are changing business and changing employment.

As a recent report from the world’s leading job website Indeed found: “The growing utilisation of GenAI and other technologies, along with the rising demand for jobs involved in their development, has the potential to reshape the broader landscape of the labour market.”

At Work Avenue, we have added a series of workshops, events and training courses around these new digital tools – offering job seekers the chance to retrain and upskill to get a competitive edge when it comes to landing that new role.