Businesses showing signs of confidence, with the UK labour market looking strong.


CV-Library attracts over 4.3million unique job seekers every month and is one of the UK’s largest online jobsites. So, their quarterly job market reports are always welcome, providing a snapshot of what’s going on in the labour market.

With the Q2 figures just in, the report suggests that organisations are feeling confident. Job vacancies are up nearly 15% on Q2 figures for 2016 at 482,335, with average salaries on offer also on the up from £32,388 to £33,019 for the same time period. For those looking to move jobs, and for the graduates just finishing university, this can only mean good news.

And in terms of where this growth is occurring, it appears to be a nationwide trend. Scotland’s market is particularly buoyant, with Glasgow, Dundee and Aberdeen reporting job vacancy growth rates of 26.4%, 16.6% and 17.8% respectively up from Q2 2016 . Whilst in the north and south of England, top performing cities were Manchester at 12.6% and Sheffield at 16.2% and Guildford at 19.6% and Brighton at 25.3% – all outpacing London at 11%. And the top regions to experience increases in advertised salaries are also well represented by the north. The North East comes in top at 6.6%, then Northern Ireland at 6.1%, then Wales at 3.2% followed by Scotland up 2% and the North West up by 1.9%.

So what industries are doing well? The top ten industries for job growth year-on-year showed the following increases:

  • manufacturing 24%
  • charity 21%
  • automotive 20.4%
  • social care 18.2%
  • property 16.3%
  • recruitment 14.8%
  • engineering 11.2%
  • design 10.4%
  • agriculture 9.9%
  • construction 7.2%

It’s encouraging to see these positive results one year on from the decision to exit the EU and given the political instability of recent months.

Yet whilst businesses are appearing optimistic, the same cannot be said for candidates it seems. In fact, CV-Library’s data suggests that application rates have decreased in the last quarter, falling by 14.9% and 3.4% down year-on-year. Given the snap election, it’s hardly surprising, so it will be interesting to see what the second half of the year brings.

Lee Biggins, founder and managing director of CV-Library says“It’s great to see that businesses across the UK are continuing to invest in growing their workforce. It’s particularly positive to see such a high year-on-year jump in job vacancies across many key sectors, especially given that during the same period last year the Brexit backlash was yet to hit. Not only that, but in the run up to the recent election job vacancies were still increasing, despite ongoing uncertainty. For eager job hunters now is a great time to begin looking for the next opportunity

However, it’s clear that candidates are not reciprocating this confidence, with application rates dropping across the UK. As the dust settles on the recent election, we hope to see candidate appetite pick back up – especially given that there are some great opportunities out there in many of the UK’s top industries”



 

Thursday, 20 July 2017

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