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Q2 job vacancies up over 11% YoY, CV-Library reveals

New second quarter 2016 data from job site CV-Library has revealed that, despite the ongoing speculation surrounding the UK’s decision to leave the EU last month, the nation’s job market is standing strong, suggesting that the predicted Brexit backlash is yet to have any significant impact on British jobs.

 

When compared to Q2 2015, figures from last quarter show an 11.3% increase in job vacancies, while candidate applications increased by an even greater 13.2%.

 

Confirming the strength of the UK’s labour market, a number of key sectors and regions across the nation experienced healthy job growth, highlighting the fact that the increase is not limited to any one particular area. The sectors and cities to experience the strongest job growth in Q2 2016 include:

 

Sector

Job Growth

 

City

Job Growth

Arts / graphic design                    

56.8%

 

Liverpool

21.8%

Leisure/tourism

51%

 

Cardiff

15.8%

Education

39.3%

 

Edinburgh

14.5%

Legal

38.9%

 

Manchester

12.6%

Catering

33.3%

 

Hull

12.5%

Social care

29.9%

 

Southampton

12.5%

Hospitality/hotel

25.7%

 

Leeds

11.7%

Automotive

23.7%

 

London

10.7%

Marketing

23.5%

 

Bristol

10.7%

Construction

22.2%

 

Glasgow

6.1%

 

Despite salaries dropping by 1.9% in June (YoY), UK advertised salaries actually grew by 0.6% when comparing last quarter to Q2 2015, suggesting it is still too early to associate any declines to the impending Brexit. Whilst only a slight increase, the 0.6% growth is actually above the forecast inflation rate of 0.5% (up from 0.3% in May 2016), painting a more positive picture overall for UK workers.

 

Furthermore, the fact that Q2’s increase in job applications outpaced job growth suggests that static salaries are not deterring candidate appetite, ensuring businesses have plenty of choice when employing new recruits, CV-Library states. The job site says increased candidate interest is crucial for long-term business sustainability, particularly as the UK embarks on its exit from the EU.

 

Lee Biggins, founder and managing director, commented, “It’s positive to see that the job market is still doing well. Whilst many have been quick to voice their concerns about the Brexit and what it means for the UK’s economy, the reality is that it’s far too early to speculate. There may yet be turbulent times ahead for the UK as we navigate our withdrawal from the EU, however, it’s certainly not all doom and gloom. The nation should be confident in the fact that salaries are still growing, job-hunters are still active and that businesses are continuing to invest in job creation and solidifying their workforces. While it’s too soon to draw any firm conclusions about the future, these initial post-referendum results should be able to provide some reassurance for UK candidates, workers and businesses alike.”

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