The latest job market report from CV-Library has found applications for jobs have risen by an impressive 8.9 per cent compared with October last year. The company have found that certain locations have experienced even bigger jumps in application growth year-on-year, with the top ten cities including:
- Portsmouth – 36.9 per cent rise in applications
- Brighton – 19.3 per cent rise in applications
- Southampton – 17 per cent rise in applications
- Bristol – 16.7 per cent rise in applications
- Cardiff – 13.3 per cent rise in applications
- Glasgow – 12 per cent rise in applications
- Edinburgh – 11.3 per cent rise in applications
- London – 9.9 per cent rise in applications
- Manchester – 4 per cent rise in applications
- Leicester – 2.9 per cent rise in applications
The data also found that the charity sector experienced the largest surge in applications year-on-year (72.3 per cent), followed by hospitality (45.7 per cent), IT (36.3 per cent), legal (33.6 per cent) and electronics (26.7 per cent).
“While it may be encouraging to see that candidates are feeling confident about job hunting, employers should remain wary,” said Lee Biggins, founder and CEO of CV-Library. “Even though Brexit has been pushed back to 2020, the result of the general election could have a huge impact on the job market and our future in the European Union.
“However, while airing on the side of caution, now is a great time to hire ahead of the New Year rush, especially as candidates in these key cities are responding to the market strength. Plus, with a significant break between any likely conclusion to Brexit, now is as good a time as any.”
A probable cause for this surge in applications could be down to the resounding 31.8 per cent rise in salaries for new roles. The data found that Brighton led the major cities in salary growth (38.8 per cent), ahead of Edinburgh (30.7 per cent), Portsmouth (16 per cent), Cardiff (13.9 per cent) and Glasgow (12.3 per cent).
As well as the rise in salaries, job vacancies rose by 6.2 per cent in October, suggesting that UK employers are regaining faith in their hiring efforts once more.
Biggins adds: “While many companies are tempted to wind down in the lead up to Christmas and the New Year, it’s a good opportunity to get ahead with your hiring plans. The promise of higher pay is driving applications up right now, but it’s important to evaluate and assess the suitability of a candidate before offering them a bumper new pay packet.
“Set up a structured, fair and thorough hiring process to give you the best possible chance of making a great hire. Rushing or cutting corners can do more harm than good, and it can increase your chances of letting good candidates slip through the cracks,” he concludes.