The outlook for recruitment in the UK is positive for quarter 2 as our clients and candidates are telling us that they remain confident in the current buoyant job market.
The UK is experiencing growth in the number of job vacancies representing a year on year increase of 0.9% in the job market. This follows the UK’s ever-decreasing unemployment rate reflecting the diverse number of opportunities available to job seekers today.
The latest figures from CV library show that job vacancies increased by 14.1% in March and applications are on the up too, increasing by nearly 5% last month and still growing going in to quarter 2.
In terms of vacancies, the highest performing sectors currently include HR, recruitment, automotive, property, manufacturing, retail and IT. The HR sector one of the best performing with a current total of nearly 18,000 vacancies with the manufacturing sector following closely behind with a vacancy growth of 36% last month.
In terms of salary, the HR sector has outperformed others, with recent gains in annual salary of 4.6% and an average annual salary advertised at £32,042.
Even more positive news when it comes to salaries as growth has started to pick up across with UK and is set to increase further into quarter 2 of this year. Although the wage growth isn’t improving at the same rate as vacancy growth, we are still experiencing increases with a 0.3% rise between January and February and a 1.9% rise from February to March.
The National Living Wage is also set to rise this year aligned to UK inflation rates as the cost of living is on the up.
The cities experiencing the greatest growth in job vacancies and applications include Liverpool, Brighton, Birmingham, Sheffield, Leeds, Manchester, Bristol and London. We currently have vacancies in all of these locations across the UK and more so why not browse out latest jobs here.
In this period of growth it’s important for businesses to ensure their salaries and incentives are in line with candidate expectations to retain their competitive edge over other employers.