Home Business News Competition for jobs hits five-year low

Competition for jobs hits five-year low

by LLB Reporter
6th Aug 18 7:33 am

The ongoing search for talented employees has declined as the British summertime took hold of the nations, with the total UK advertised vacancies down 5.1% in the year to June 2018, according to Adzuna.co.uk.

In June 2018, there were 1,141,773 total advertised vacancies in the UK, compared to 1,202,573 a year prior.

Despite the decline, employers remain optimistic of securing the best talent as Britain’s labour market is thriving with unemployment holding at a low,. Rapidly falling claimant counts have produced the lowest levels of competition for advertised roles in recorded history. With jobseekers per vacancy at a historic low of 0.38, fortunes for jobseekers around the UK have never looked so sunny.

Doug Monro, co-founder of Adzuna, said:With competition for roles hitting an historic low, the mood should certainly be cheery for jobseekers in Britain. Monthly vacancy growth and a good, long-term trend in salary growth compound the good news for those seeking new employment opportunities.”

“A small stumble in salary growth remains the only black spot on an otherwise sunny horizon. If this keeps up, the job market could be looking just as bright as the summer skies across the country.”

While advertised vacancies seem to withering, wages largely seem to be continuing to bloom with typical salaries remaining 3.8% higher in June 2018 than in 2017. Despite a small decline in advertised wages between May and June, the over-arching trend in employer pay promises continues to look good for job hunters.

In terms of regional wage growth, Northern Ireland continues to lead the wider trend of salary positivity, with advertised salaries rising 14.8% year-on-year. London (5.2%) and the South West region (4.9%) rounded out the top three regional performers for pay promises. Although every area of the UK saw positive salary movement in June 2018, some regions experienced far small growth spurts. Eastern England (1.2%), Yorkshire and the Humber (1.6%) and Scotland (1.8%) all saw gains remain below 2.0%.

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