In this summary document, we draw out succinctly the key messages from across our Skills Shortage Bulletin series, aggregating and amplifying these messages. The summary is updated annually.
Our key findings for 2024 are:
- Overall labour market conditions remain challenging
- Profound changes to patterns of employment are intensifying
- Skills shortages are numerous and have grown significantly
- The rate of skills investment is in decline
- Skills shortages have significant costs for UK businesses, the economy, and the environment
- Employers prize work experience and broader transferable skills when recruiting
- Young people lack confidence in their future ability to meet skills requirements
- The education system struggles to respond to skills needs and is under-resourced