Latest Labour Market Statistics Show Total advertised Vacancies Rise 7.2% Year-on-Year
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The ongoing search for talented employees has boosted the total UK advertised vacancies by 7.2% in the year to August 2017, according to the latest job market statistics from Adzuna.co.uk.
Looking back to last year, there were 1,123,365 advertised vacancies in the UK after the market witnessed a slight post-Brexit dip. A year on, available openings stand slightly higher as the battle for top talent rages on.
UK businesses are already finding it increasingly more difficult to recruit skilled staff for professional roles like banking and engineering as a result of a fall in talent flow to our fair shores. Therefore, attracting those skilled international workers remains key to boosting UK output, as well as filling new roles that will drive the economy forward.
Far from being an issue for professional roles alone, there is cause for concern across the board,with the construction industry also worried a potential Brexit will give rise to skills shortages due to its reliance on overseas talent boosts.
While advertised vacancies continue to bloom, wages are withering with typical salaries hitting their lowest level since March 2014 (£31,958) as consumer confidence starts to dwindle.
In terms of regional wage growth, Northern Ireland continues to buck the wider trend, with advertised salaries rising 4.4% year-on-year. With Theresa May confirming that there will be no physical border after Brexit, there is no reason to believe that Northern Ireland’s recent economic progress will be halted.
Wales is the only other region to record an annual improvement (0.9%), with all other areas witnessing decreases. Scotland (-4.2%) and the South East of England (-4.1%) have been the hardest hit.
The IT crowd proving popular as salaries are on the up
With innovation a key driving force in sustaining a post-Brexit economy, IT jobs have risen the ranks to become one of the biggest improving job sectors in terms of average salary. Typical salaries are currently 2.6% higher than last year and currently stand at £48,586. In addition, there are 72,913 current openings in the sector.
With a number of UK companies hit by cyber-attacks over the past few months, the IT sector has seen an increase in demand not only for skilled workers, but also for effective cyber-security measures to be put in place by the Department for Digital, Culture, Media and Sport (DCMS).
Following reports that companies that provide essential services like energy and transport could be fined as much as £17m for failing to have effective security measures in place, IT jobs are becoming more business-critical than ever, despite the ongoing debate on the rise of automation.
Admin jobs remain resilient despite rise of AI
The rise of artificial intelligence has become a noticeable trend in recent years, but opinion remains divided on both the size of its potential impact and the immediacy. According to Adzuna data, administrative jobs are also among the biggest improving sectors in terms of salary, showing it is currently resisting the effects of automation.
Average salaries are up 6.8% year-on-year and currently stand at £23,977. Vacancies have also risen by 2% annually, meaning there are 36,522 openings currently available.
Crawley joins list of best places to find a job
While Cambridge remains the best place to find a job with just 0.04 jobseekers per vacancy, Crawley makes the top 10 list for the first time as the 10th best city to find a job with 0.18 jobseekers for every open role. Warrington, Guildford, Southampton and Winchester made up positions 2-5, with Reading, Swindon, Oxford and Manchester filling up the rest of the top 10.
At the other end of the scale Sunderland and Belfast were the toughest places for a jobseeker to find work, with 2.51 and 2.07 people looking for a job for every advertised vacancy.