Competition for jobs hits five year low

  •   Current number of opportunities available sits at 1,141,733
  • Competition for roles hits record low – as jobseekers per vacancy drop to 0.38
  • Average advertised salaries stutter – falling 0.5% since last month, to £33,762
  • Scientific jobs rank amongst worst declining industries for pay –sector salaries average £37,967, 2.5% under June 2017 levels
  • Creative & Design roles sitting pretty – salaries up 10% from 2017, to £34,892 
  • London salaries continue to perform well, rising 5.2% year-on-year in June 2018 to  £41.262

The ongoing search for talented employees has declined as the British summertime took hold of the nations, with the total UK advertised vacancies down 5.1% in the year to June 2018, according to Adzuna.co.uk.

In June 2018, there were 1,141,773 total advertised vacancies in the UK, compared to 1,202,573 a year prior.

Despite the decline, employers remain optimistic of securing the best talent as Britain’s labour market is thriving with unemployment holding at a low,. Rapidly falling claimant counts have produced the lowest levels of competition for advertised roles in recorded history. With jobseekers per vacancy at a historic low of 0.38, fortunes for jobseekers around the UK have never looked so sunny.

Doug Monro, co-founder of Adzuna, said: “With competition for roles hitting an historic low, the mood should certainly be cheery for jobseekers in Britain. Monthly vacancy growth and a good, long-term trend in salary growth compound the good news for those seeking new employment opportunities.”

“A small stumble in salary growth remains the only black spot on an otherwise sunny horizon. If this keeps up, the job market could be looking just as bright as the summer skies across the country.”

While advertised vacancies seem to withering, wages largely seem to be continuing to bloom with typical salaries remaining 3.8% higher in June 2018 than in 2017. Despite a small decline in advertised wages between May and June, the over-arching trend in employer pay promises continues to look good for job hunters.

In terms of regional wage growth, Northern Ireland continues to lead the wider trend of salary positivity, with advertised salaries rising 14.8% year-on-year. London (5.2%) and the South West region (4.9%) rounded out the top three regional performers for pay promises. Although every area of the UK saw positive salary movement in June 2018, some regions experienced far small growth spurts. Eastern England (1.2%), Yorkshire and the Humber (1.6%) and Scotland (1.8%) all saw gains remain below 2.0%.

Table 1: Total advertised vacancies and UK salary

June 2017 May 2017 Monthly

Change

Annual change from June 2017
UK Vacancies 1,141,773 1,132,420 0.8% -5.1%
Jobseekers per Vacancy 0.38 0.40 5.0% 2.6%
Av. Advertised UK Salary £33,762 £33,920 -0.5%               3.8%

 Creative and Design jobs sitting pretty 

Salaries in the Creative & Design sector are looking good, with average advertised wages for sector workers sitting in the top three performing industries this month. Typical advertised pay rates for the 8,842 open roles in the sector sit currently at £34,892, a 10% hike on 2017 levels.

Vacancies in the industry rose 3.0% between June 2017 and 2018, as employer demand for designers and creative staff blossomed. Combined with rising advertised wages, this paints a picture of an industry in good health, a good sign for employees and employers alike.

Science salaries lack sparkle 

Salaries in the science sector averaged £37,967 in June this year, entering the table of declining salaries in 5th place, with a 2.5% drop. There were 15,022 roles advertised in the scientific and QA sector last month.

The number of science vacancies has skyrocketed in recent months, however, with 51% more vacancies in June 2018 than the same time a year before.

Doug Monro, co-founder of Adzuna, comments: “Everywhere we look, we see more reports of the rise of the robots, and science and development roles sit right at the heart of this revolution. Demand for top talent in the scientific world is through the roof, and while salaries are falling, this could be an indicator of young talent having a real  opportunity to grow and develop in ground-breaking roles.”

Table 2: Best-performing jobs sectors in the UK – annual salaries

Job Sector  Average salary Salary % 12 Month Change Total Vacancies
Admin Jobs £27,714 24.5% 43,679
Teaching Jobs £31,224 15.9% 85,078
Creative & Design Jobs £34,892 10.0% 8,842
Travel Jobs £28,367 10.0% 2,768
Energy, Oil & Gas Jobs £41,928 8.8% 5,490

 Table 3: Worst-performing jobs sectors in the UK – annual salaries

 

Job Sector  Average salary Salary % 12 Month Change Total Vacancies
Graduate Jobs £21,206 -12.7% 6,957
Logistics & Warehouse Jobs £24,081 -5.5% 40,179
Trade & Construction Jobs £36,725 -4.9% 78,193
Hospitality & Catering Jobs £22,137 -4.0% 53,374
Scientific & QA Jobs £37,967 -2.5% 15,022
Best and worst cities to find a job

July 2018

 Adzuna real-time jobs data,

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Published by

davepickering

Edinburgh reporter and photographer