Online jobs site CV-Library has reported that the UK labour market experienced 15.1% growth in job vacancies in Q1 2016, compared to Q1 2015, despite economic concerns surrounding the EU referendum, a wavering steel industry and a weakened sterling.
Further confirming the strength of the labour market, job growth can be seen in a number of key sectors and across the UK, suggesting growth is not limited to one region or industry. Arts and graphic design, social care, education and legal saw the strongest growth by sector, while Liverpool, Edinburgh and Cardiff were the best performing cities.
Furthermore, the job site reported an increase in job applications with each vacancy now receiving over 19 applications as rates increased by 16.4% year-on-year. This means application growth is now outpacing job growth – good news for employers currently grappling with skills shortages, who now have more candidates to choose from during the recruitment process.
“The recruitment industry is often the first to feel the effects of economic fallout, so it’s reassuring to see the labour market remain strong during a shaky economic climate. Employers are left with many unanswered questions about how a Brexit would impact the labour market, and what the government will do to support struggling sectors; yet job growth is steady, suggesting that UK businesses are in a strong position and continue to create jobs for the UK economy,” Lee Biggins, founder and managing director of CV-Library said.
The report also showed that in Q1 2016 there was 3.9% growth in advertised salaries when compared with the same period in 2015; meaning the average wage has jumped from £31,710 to £32,938.