Encouraging news that competition for jobs is at a 6 year low and will inevitably put pressure on wage inflation but the principles of sound, evaluated recruitment is as true today as it has ever been.
The highlights of the report in OnRec are as follows:
- Competition for jobs at six year low, with 1.33 jobseekers for every advertised vacancy in May, down from 2.18 in May 2013
- Total advertised vacancies rise 19% year-on-year, with 818,471 available advertised vacancies in May
- More vacancies than jobseekers in twenty UK cities, Cambridge the best city in the UK to find a job with seven job vacancies per jobseeker
- Struggling Northern areas bouncing back the fastest, with 17 jobseekers per position in the Wirral in May compared to 56 jobseekers per position a year ago; further significant falls in Hull, Salford, Sunderland and Rochdale
- Advertised salaries growing for second consecutive month, up 0.6% to £32,376 in May, with Adzuna live data indicating wage growth will continue into June
- Salaries booming in IT and Engineering sectors, with advertised salaries increasing 5.1% and 4.7% year-on-year in May respectively
Interesting to see that the IT sector is booking so much in terms of salaries – if you are recruiting for this sector then you should check out our IT Skills tests service – designed to help you evaluate candidates real skill levels.