CV Library releases Q4 2014 Job Market Report
This was to be expected, and went hand in hand with the country slowing down for the typically quiet festive period. However, in comparison with figures from the same time in 2013, CV-Library can report a substantial increase in year on year activity.
• The number of job applications decreased by a marginal 3 per cent between Q3 and Q4 2014, however there was a 15 per cent increase in activity year on year.
• There was also a 2.5 per cent drop in the number of job searches being carried out between Q3 and Q4 2014. However, the Q4 data did represent a 5.5 per cent year on year increase in total.
• It was great news for our CV Database however – we saw an 8 per cent increase in CV registrations between Q3 and Q4 of last year, and a 15 per cent year on year total.
• In Q4 2014, every 8 job searches converted to an application, compared with a 9:1 ratio in Q4 2013 – data which reveals job hunter follow-through rates are improving!
• Competition for jobs increased slightly between Q3 and Q4 2014, with the average number of applications per job going from 16.5 to 17.5.
The administration sector continued to prevail as the country's most popular employment industry, making up nearly 16 per cent of the nation's total job applications in recent months. Competition for jobs in this industry moved from 51 applications per job, to 59 - so Administration retained its title as the UK's most competitive job sector.
In terms of number of applications, engineering (at 10.5 per cent) and construction (at 8 per cent) came a close second and third. Sales and customer services both contributed to around 6 per cent of total job applications.
The construction (3.5 per cent), distribution (3 per cent), customer services (2.5 per cent) and manufacturing (1 per cent) sectors all received more applications in Q4 2014 than they did in Q3. In comparison, sectors which decreased in popularity included Sales (-3 per cent) and retail, an industry that saw application numbers dropping by a massive 18 per cent between quarters.
Job seekers in some locations were unseasonably active and influenced a regional increase in application numbers throughout Q4!
Southampton job hunters applied for 8.5 per cent more jobs in Q4 than in Q3 and those in Newcastle applied for 3 per cent more. In Scotland, Edinburgh saw a 4.5 per cent increase.
Salary by Industry
Below are the average minimum and maximum salaries for the five most popular sectors, during an average month in Q4.
Administration £20,517 - £22,971
Engineering £30,670 - £36,575
Construction £36,371 - £44,664
Sales £24,514 - £32,914
Customer Services £18,176 - £20,668
Conclusion and Analysis
Year on year figures reveal impressive growth
Despite a dip in activity between Q3 and Q4, the nation’s job hunters carried out 5.5 per cent more job searches and 15 per cent more job applications than during the same period of 2013. On top of this, CV-Library experienced record site traffic with a 15 per cent increase in CV registrations between Q4 2013 and 2014.
So, whilst December continues to be the slowest month for job hunting activity, 2014 was in general a far busier year for UK job hunters, with more people searching for – and applying to – even more jobs.
The top five industries (in terms of application popularity) were administration, engineering, construction, sales and customer services.
Whilst locations such as London and Liverpool are likely to remain the country's top spots for recruitment activity for some time, increased dedication from job hunters in other areas (Southampton, Newcastle and Edinburgh) reveals a promising tendency towards improved employment figures in these areas.