Welcome to Adzuna’s May UK Employment Market Report. This month the data reveals labour market resilience as vacancies and salaries grow steadily in Q2 of 2013. The report is a data driven, up to the minute view of the job market in Britain today, from hiring patterns and job distribution around the country, to rates of pay and booming sectors. We are delighted to bring to you the only full market report like this using real time employment data (based on almost every live UK job ad).
Adzuna Employment Market Report Overview
The Adzuna Jobs Index reveals there are currently 460,977 live vacancies in UK, up 0.2% over 6 months, proving the labour market is more resilient than expected as GDP returns to growth in the first quarter of 2013. April’s vacancy stock has risen in tandem with the number of Jobseeker’s Allowance claimants reported by the ONS over the past 6 months, resulting in 3.4 Jobseekers per vacancy – an increase of 1.8% since October 2012. This increase suggests a decrease in employer confidence to take on new staff in times of economic uncertainty.
Flora Lowther, Head of Research at Adzuna says “The number of advertised jobs has increased steadily from Q1 to Q2. While this is encouraging, long term unemployment remains a major problem. Cities such as Hull and Chester remain in trouble with job stock dwindling and average wages falling. One of the few bright spots in this month’s figures is that youth unemployment has fallen by 0.1%. However, Adzuna data reveals that there are still 20 applicants for every entry level vacancy, so it’s still fiercely competitive for 18 to 24 year olds.
Where are all the jobs?
As the job market swells with fresh vacancies, up 0.2% over the last 6 months, so also has competition for jobs, increasing by 1.8% this April. The data reveals some clear areas of employment opportunity around the country. Jobseekers should head to Aberdeen, Cambridge and Guildford where there are more vacancies than people looking for work. Salford is the hardest city in the UK to find a job this month with 55 applicants chasing every vacancy. Edinburgh and Preston may not have made the top 10 list, but competition for jobs has decreased by 5% in the past 6 months.
Salaries increasing marginally in South
Average salaries have increased marginally (+0.4%) in the last month. Over 6 months, advertised pay packets have increased by 0.1% to just above the highs of the summer of 2012. Wales & the North East of England are the worst paying regions in the UK with average advertised salaries in April of £25,368 and £27,305 respectively. London and the South East of England remain the best payers, but jobseekers looking for a pay rise should look to head to Cardiff and Exeter where wages have increased by 2% since October. The Scottish labour market continues to be propped up by the Oil & Gas Sector in Aberdeen, but other cities north of the border have seen wages fall this month.
IT and Energy Sectors leading the way
The IT sector continues to boom with a number of technology salaries rising 6% over the last 6 months. Mobile “app” developers and Web Designers have seen the biggest improvement in wages employers are willing to pay in 2013. The Energy Oil & Gas industry is the top paying sector this month, with average wages sitting at £48,405. Demand for legal and manufacturing professionals has dropped this month as average advertised salaries shrink by up to £4,000 since October 2012.