You’ll Find Recession is Nothing to Fear, Come to Zenopa, Jobs are Here!

While the Bank of England is reluctant to officially forecast the start of a recession by 2023, it anticipates a significant economic downturn of nearly 1% as we move closer to December.

However, the expected rise in unemployment actually sits below what was predicted after looking at the current economic conditions. The predominant reason for this is the labour gap left by workers from the EU who are unable to work in the UK following Brexit regulations, hence opening up job opportunities for local talent. The Office for National Statistics has presented data that suggests the benefit potential here will span across all income groups, rather than be highly concentrated in one income bracket.

One cause for concern has been the NHS budget. This was significantly increased to help England cope with the effects of the Covid 19 pandemic which hit in 2020. Therefore, as the demand and cost reduce in relation to Covid 19, direct funding to this sector will naturally also fall; in monetary terms, expense reduced from 5.1billion in 2021/22 to £2.2billion in 2022/23, and to £0.5billion in 2023/24.

Figures released by NHS England suggest the budget between 2023/24 and 2024/25 will increase, even if you take inflation into account.

According to a performance report by NHS England, the NHS budget in 2019 was £124 billion. England.nhs.uk also declares their 2022/2023 commissioning budget as £153 billion. The official Bank of England Inflation Calculator, which uses the Consumer Price Index, states that £153 billion today would be equivalent to £133.96 billion in 2019. Hence demonstrating a budget increase in real terms of just under £10 billion.

During the Spending Review period, annual NHS capital expenditure is anticipated to total approximately £8 billion, this is £5 billion more than the annual average last decade (2010-19). The 2021 Spending Review outlined the aim to facilitate improvement and efficiency in the next 2 years, in order to reach an arranged standard significantly higher than what we have now.

Covid 19 has had a lasting effect on private equity firms who have since become more attracted to recruitment companies that support the life sciences, technology, and digital transformation industries.

Private Equity is also looking for recruiting experts who cover the rapidly expanding Environmental, Social, and Governance sector as well as the renewables industries, but this shift in interest has no correlation to the pandemic.
Health Secretary & Deputy Prime Minister Therese Coffey appeared on Good Morning Britain on 22.09.22. She addressed current recruitment concerns, stating they have “listened, & are responding, addressing a number of these reasons” why people are leaving NHS jobs.

Some of the practical application being put in place to solve this includes:
– Working to “correct those pension rules related to inflation”
– Promising to “extend until 2024 measures that will allow people to stay or return to the NHS”
– Employing a “manifesto pledge to recruit 50,000 more nurses by 2024” alongside “design & delivery of our forthcoming workforce plan”

In conclusion, while we so often jump to believe that recession correlates directly to unemployment, official statistics show that it is not as bad as it seems. With EU workers leaving a surplus of job opportunities, NHS budgets increasing year on year, and government initiatives looking to work out the kinks, economic stagnation is the perfect occasion for a job application!

There are still a host of high-quality jobs available in the industries covered by Zenopa: Life Science, Medical Devices, Laboratory, Animal Health, Consumer, Pharmaceutical, Healthcare Communications, Service Engineering, Dental and more.

Click the link to see jobs we are currently recruiting for: https://www.zenopa.com/search