AI Job Openings Dry Up in UK

Nov 5, 2023 ·

The October 2023 Jobs Report from the Reed Institute of Economics showed that England had an overall decrease in jobs for the month, with a majority of those losses being in AI-related industries. The report indicated that the number of AI-related jobs has fallen by 8.3% since the previous year, and now stands at 6.2 million positions. This is the first time since 2013 that such a decline has been seen in this sector, with the majority of losses occurring in the finance, transportation and education sectors.

The report also highlighted the impact of automation on the labour market, as well as highlighting the increasing trend of artificial intelligence (AI) replacing traditional jobs. It showed that the total number of jobs in the UK dropped 4.7% over the past 12 months, while AI-related work decreased 7.5%.

The report concluded that although the employment rate remains high in England, there are still areas of concern. It noted that many jobs being replaced by AI are concentrated in the more vulnerable areas of society, such as those with lower educational attainment or lower levels of skills.

The report also warned that the pace of job losses due to automation will continue to increase over the next few years and that there is a need for government intervention to ensure that the transition is managed effectively and workers are not left behind. Governments should consider investing in retraining schemes in order to ensure that those affected by technology can find new roles in other sectors and stay employed.

In conclusion, the October 2023 Jobs Report from the Reed Institute of Economics showed a decline in both the overall number of jobs and AI-related jobs in England. While the employment rate remains high, there is still cause for concern as many of the jobs being replaced by AI are in vulnerable areas. Governments should take steps to ensure that workers who are displaced are provided with retraining opportunities and assistance so they can remain employed in the future.