Amid the cost of living crisis, record high inflation and global supply chain issues, it’s easy to forget that many UK businesses are also facing a skilled worker supply shortage.
It is predicted that by 2030 the lack of skilled workers will cost the UK economy £120 billion. At this point, there will be around 2.5 million too few skilled workers, but an oversupply of lower skilled workers. One study even suggests that skilled worker shortages are already costing UK businesses £6 billion a year¹.
While skills gap issues are hitting sectors such as hospitality and construction particularly hard, few industries are immune to the issue. Our recent poll of construction business owners and marketers found that 44% believe their businesses do not have the required skills to implement an effective digital marketing strategy.
To reveal which industries and regions of the UK have the most significant skilled worker shortages, we mined data from the Office of National Statistics² and found that:
Businesses in the hospitality, construction and transport industries have been hardest hit by skilled worker shortages:
Cornwall, Lancashire, Dorset and Somerset, East Wales and Shropshire and Staffordshire are the areas of the UK that have been hardest hit by skilled worker shortages:
Hampshire and the Isle of Wight, Dorset and Somerset, East Wales and Cheshire are the areas of the UK where the production sector has been hardest hit by skilled worker shortages:
North Yorkshire, the West Midlands, East Anglia, Dorset and Somerset and East Wales are the areas of the UK where the services sector has been hardest hit by skilled worker shortages:
To find out more about our research and top tips for business and digital marketing strategy, visit our Koozai blog.
Sources:
¹“Without action, skills shortages will cost UK economy over £120bn” | The Leader (leaderlive.co.uk)
²Business insights and impact on the UK economy – Office for National Statistics (ons.gov.uk)
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