New figures show
It’s been a strong start to the year for London’s labour market, with job vacancies, application rates and advertised salaries all seeing an increase last quarter. In fact, job vacancies rose by a staggering 15.1 per cent in Q1, when compared with data from Q4 2017. That’s according to the latest job market data from CV-Library, the UK’s leading independent job site.
What’s more, the report, which analysed data from Q1 2018 and compared this with Q4 2017, found that application rates across the city soared by 27.6 per cent during this period. Some of the nation’s key cities also witnessed impressive growth last quarter. As such, the top locations for finding candidates right now include:
- Edinburgh – apps up 38.9 per cent
- Manchester – apps up 35.8 per cent
- Aberdeen – apps up 34.6 per cent
- Birmingham – apps up 34 per cent
- Liverpool – apps up 30.5 per cent
- Southampton – apps up 28.2 per cent
- London – apps up 27.6 per cent
- Glasgow – apps up 25.9 per cent
- Cardiff – apps up 23.9 per cent
- Sheffield – apps up 23.8 per cent
Lee Biggins, founder and managing director of CV-Library, comments on the findings: “It’s great to see that the job market in London has performed so well in the first quarter, with businesses in the city remaining resilient as we move through 2018. And it’s clear that this confidence is catching on, with candidate appetite picking back up and job hunters remaining active across the capital. If you’re looking to expand your workforce, now could be the perfect time to ramp up your recruitment efforts.”
Furthermore, advertised salaries in London saw an increase in Q1, rising by 1.9 per cent quarter-on-quarter and 1.7 per cent year-on-year. But despite the report being largely positive, applications rates remained stagnant last quarter.
Biggins concludes: “It’s positive that salaries saw an increase on the last quarter and this could be a big contributing factor towards the rise in application rates when compared with Q4. With candidates feeling more comfortable about making their next career move, businesses across London need to continue to offer competitive packages if they hope to keep the momentum going.”