Global RPO provider WilsonHCG called for more accurate data in a press release dated 11 September, including use of data from both public and private organisations such as itself.

The company noted that the UK’s Office for National Statistics reported job vacancies increased by 14.3% in the months of June to August from the same period last year. However, other data is more positive.

“Although there has been a continued fall in hiring activity, we are starting to experience a slowdown,” WilsonHCG COO Kim Pope said in a press release. “We usually see a stark fall in recruitment in August due to the summer holiday period; however, the decline has been shallower than other months, which is a positive for the labour market and the economy.”

WilsonHCG’s own data shows that although UK job vacancies dropped in August, the decline is beginning to slow. It noted only a 1.9% reduction in new job postings in August compared to July, which it said is minimal given the seasonal fluctuations during the summer holidays.

“The challenge is that much of the data that’s informing business and macro agendas is either out of date or constantly in review due to statistical issues,” Pope said. “We obviously welcome the fact the ONS has recognized that there are flaws in some of the statistical information shared and is updating its processes, but there are other ways to simplify access to insights, including using alternative data sources.”

She noted the same problem is happening in the US at the Bureau of Labor Statistics.

“There are organizations like ourselves that have access to real-time information that paints a more accurate picture of the current climate,” Pope said. “It’s important that this insight is taken on board if global economies are to recover from what has already been a tough year.”