Job vacancies grow by 15% YoY, according to CV-Library
Whilst January and February are traditionally busy months in the recruitment sector, 2016's first quarter was exceptionally commanding, according to CV-Library's quarterly Job Market Report.
The job site reported a 16.4% increase in applications, a 3.9% boost in advertised salaries and a 15.1% growth in job vacancies in Q1 2016 when compared with Q1 2015.
The biggest jump in applications can be seen across the north of England and Scotland as workers appear to favour positions outside of the nation's capital, CV-Library says. Liverpool (31.2%), Hull (29.1%), Leeds (28.1%) and Glasgow (22.6%) all feature on the list of cities with the highest application growth. Looking at sectors, distribution (40.4%), construction (38%) and manufacturing (32.3%) also experienced a notable increase in applications.
Lee Biggins, founder and managing director of CV-Library, commented, "It's particularly interesting to see the rise in manufacturing applications as it comes at a time of instability for the sector, suggesting that professionals in the industry are rushing to secure jobs while opportunities are still available."
National advertised salary data suggests that businesses are attempting to drive up wages for employees in Q1 2016; annual increases can be seen across the UK, including Hull (13.4%), Bristol (7.1%) and Leeds (6.3%). Key industries such as construction (17.1%) and distribution (4.9%) experienced particularly strong growth, as did the retail (7.2%) and hospitality (3.7%) sectors.
Biggins added, "The rise in wages is reassuring; however, when looking at the data versus the previous quarter, wages have actually dropped by 0.9%. Whilst this could just be a seasonal trend, it could also be a result of businesses preparing for the financial implications of the new National Living Wage, so it'll be really interesting to see next quarter's results, especially in the retail and hospitality sectors.”
CV-Library says that job vacancies also reported growth in Q1 as UK employers are continuing their recruitment efforts into 2016. While London still holds the largest proportion of jobs, Liverpool (34.8%), Edinburgh (25.4%) and Manchester (16.1%) all feature prominently on the list of cities with the biggest job growth in Q1 2016. In addition to job growth across the nation, vacancies surged across a range of sectors including social care (36.9%), education (35.3%) and distribution (23.1%).
Biggins concluded, "It appears that the north of the country is creating jobs at a faster rate than the south of country. With efforts being revealed in the budget earlier this year to further devolve powers in support of the Northern Powerhouse, we expect to see this trend continue into 2016."