Positive growth for UK job market in Q1

CV Library’s job market report reveals total job applications, vacancies and average salaries all rose in the first quarter of 2017.

Comparing data gathered in the first quarter of 2017 with the first and last quarters’ of 2016, CV Library’s job report confirms that the market continues to go from strength to strength.

The latest data produced by the UK’s leading independent job board found that job applications saw a quarterly increase of 28.8%. This was expected as January is traditionally a busy time in recruitment, but also exceeded expectations as applications were 3.3% more than the previous comparable quarter of 2016, and indicates that candidates’ appetite is improving despite underlying uncertainty in the UK.

Advertised salaries also experienced positive growth with leading industries across the UK seeing strong increases in comparison to the previous quarter. Telecoms, manufacturing and sales saw the largest increases, while across the UK, average salaries increased by 1.3% year on year and 2.4% in comparison to the previous quarter.

The total number of job vacancies also grew, increasing by 14.5% when compared to the last quarter of 2016. Year-on-year figures confirm the total number of advertised vacancies across the UK rose by 15.4% as a result of UK businesses strong expansion aims.

In terms of locations, Bristol comes top of the job application table with growth of 39% quarter on quarter, closely followed by Cardiff at 37.1% and Birmingham at 36.5%.

Across all industries, manufacturing showed most growth at 45.5%, followed by Management at 43.5% and Automotive at 39.3%.

Lee Biggins, founder and managing director of CV-Library, comments: It is fantastic to see the UK job market not only holding its own, but also expanding throughout the first quarter of the year. It is particularly promising to see a huge number of candidates in the UK actively looking for their next career challenge, and with salaries seeing an impressive rise, the financial benefits of making a career move are clear to see.

The first quarter of the year has proved to be a successful time for candidates and companies alike. With a huge number of candidates looking for a new job, businesses should have a very deep talent pool to choose from when it comes to filling a vacancy. Likewise, candidates will reap the benefits of more jobs on offer and very strong advertised salaries, as companies look to ensure they remain competitive.

“2017 will inevitably bring a range of challenges to the job market, with the likes of Brexit, the ‘gig’ economy and worker automation constantly under the spot-light. However it is very promising to see the core job market strengthening and expanding throughout this period.

Monday, 24 April 2017

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Positive growth for UK job market in Q1