{"id":6509,"date":"2018-09-04T09:13:17","date_gmt":"2018-09-04T07:13:17","guid":{"rendered":"https:\/\/www.jobboardfinder.com\/news\/?p=6509"},"modified":"2018-11-09T12:11:23","modified_gmt":"2018-11-09T10:11:23","slug":"the-current-state-of-the-uk-labour-market","status":"publish","type":"post","link":"https:\/\/www.jobboardfinder.com\/news\/the-current-state-of-the-uk-labour-market\/","title":{"rendered":"The Current State of the UK Labour Market"},"content":{"rendered":"

According to the latest figures from the Office of National Statistics, the national unemployment rate across the UK has fallen to a new post-1975 low of 4%. While this is positive news for the UK economy, suggesting that more people are in work than ever before, it does present issues for employers. After all, with more people opting to stay in their current jobs, many companies are finding that there\u2019s a lack of talent that is actively looking for work and as a result, are struggling to fill their roles.\u00a0With more pressure to target passive job hunters, it\u2019s important to stay on top of the latest job market trends. As the UK\u2019s leading independent job board, we regularly report on the state of the UK labour market. Read on for our insights, taken from our Q2 Job Market Report<\/a>.<\/p>\n

\"\"More jobs on offer in the North<\/h2>\n

Our data tells us that advertised jobs rose by 11.6% year-on-year in Q2 2018, with key northern cities such as Sheffield, Liverpool, Leeds and Manchester seeing some of the largest spikes.\u00a0This hike could be a result of investment into the government\u2019s \u2018Northern Powerhouse\u2019<\/a> initiative, which is boosting the local economy by investing in skills, innovation, transport and culture.<\/p>\n

However, it is important to note that the most amount of jobs being advertised were in the South East (95,930 roles), followed by London (91,867 roles) and the East of England (63,407 roles).<\/p>\n

Construction and engineering candidates most in demand<\/h2>\n

According to our data, candidates in the construction, engineering, education and IT industries were some of the most in demand last quarter, with the highest amount of jobs being advertised in these sectors.\u00a0These are certainly areas affected by ongoing skills shortages, so it\u2019s not too surprising to see that organisations are still struggling to fill these roles. Furthermore, Brexit has played a part in making it more difficult to fill vacancies in these industries, which the Jobboard Finder has mentioned before (see Recruitment in the Post-Brexit Era<\/a>).<\/p>\n

Thankfully, companies are working hard to tackle the STEM gender and skills gap<\/a>, to encourage more young people to consider these professions. As a result, we hope to see an uptake in candidates within these areas in years to come.<\/p>\n

Applications aren\u2019t keeping pace<\/h2>\n

Interestingly, when looking at application numbers, the construction, engineering and manufacturing industries saw the most amount of candidate interest in Q2 2018.\u00a0However, according to our data, overall application rates aren\u2019t quite keeping pace with employer demand. Though not unusual for the time of year, given that the summer months tend to be quieter for applications, this does mean more difficulty for recruiters when it comes to filling their roles.<\/p>\n

In order to stand out, it\u2019s important that you\u2019re getting in front of the right candidates and working with the job boards that can give you maximum exposure.\u00a0Ensure that when advertising your jobs, they\u2019re well written and optimised for SEO \u2013 this will also give you a better chance of standing out in Google\u2019s new job search<\/a>.<\/p>\n

Salaries are rising<\/h2>\n

\"\"In a bid to attract talented recruits to their vacancies, many companies are pushing up their pay packets, according to our data.In fact, while average salaries stood at \u00a333,200 and saw a small rise of 0.6% year-on-year, Brighton, Liverpool and Portsmouth saw some of the biggest hikes in pay, rising by 7.9%, 6.1% and 4.4% respectively.<\/p>\n

Not surprisingly, the highest average pay was seen in London (\u00a338,315), followed by Aberdeen \u00a337,325 and Reading (\u00a335,018). The industries that offered the highest pay during this period included IT (\u00a343,625), Construction (\u00a343,241) and Management (\u00a342,222).<\/p>\n

Being competitive with pay is extremely important and you should always be aware of what packages other companies in your sector are offering. As long as you keep it fair and in line with industry averages, you\u2019ll be in a good position to fill your roles.<\/p>\n

In Summary<\/h2>\n

Over all, the UK labour market has remained stagnant so far this year. Organisations are staying confident in their hiring methods, by pushing their vacancies and searching for top talent. However, candidate appetite isn\u2019t quite keeping pace with demand. In order to attract the right people to your roles, it\u2019s important to be proactive in your hiring efforts. Choose a recruitment solution that works for you and ensure that the incentive packages you\u2019re offering match up with, or exceed, those of your competitors.<\/p>\n

 <\/p>\n

\n

We would like to thank Augusta Henning<\/a> from the CV-Library<\/a> for this contribution to our blog! If you have any suggestions for our articles, please leave a comment below.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to the latest figures from the Office of National Statistics, the national unemployment rate across the UK has fallen to a new post-1975 low of 4%. While this is positive news for the UK economy, suggesting that more people are in work than ever before, it does present issues for employers. 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