Job market analysis carried out by CV Library found a 14.7% increase in the number of advertised vacancies in the UK. These figures were populated for the month of March, in comparison to February 2017. Such statistics suggest two things. One is that confidence among small business owners is growing throughout the UK, the other that workforce expansion is becoming a major priority for many companies.
Certain UK cities experienced larger growth than others during the past month, as can be seen below:
- Liverpool – 19.9% increase.
- Brighton – 18.8%.
- Birmingham – 14.8%.
- Sheffield – 13.7%.
- Leeds – 13%.
- Manchester – 12.8%.
- Bristol – 12.5%.
- London – 12%.
- Glasgow – 11.2%.
- Cardiff – 11%.
The levels of growth that can be seen last month suggests that the UK job market is remaining strong, despite Brexit negotiations now being officially underway. This provides reason for optimism moving forward, but it remains to be seen what will happen as the process of Brexit starts to really gather pace.
Level of demand fails to match number of vacancies.
For workers looking for new opportunities, the growth evident acts as encouraging news, but the level of demand does not currently match the number of vacancies. Job applications only increased by 4.6% in this period, a figure employers will hope improves to enhance the talent pool available to them.
Despite the growing demand for staff, the increase in salaries have not kept in line with current national inflation. There has been a 1.6% increase in salary level, compared to a growth of 2.3% in inflation. Therefore, any companies offering higher salaries are likely to gain a competitive advantage in the marketplace.
Reference: Business Advice