UK job hunters react to market boom and snap up bigger pay packets

Employment & Skills | Surveys

New data from CV-Library has discovered that professionals are reacting positively to the country’s latest job market boom, with applications for new roles rising by 8.6% in April 2019.

The findings compared job market data from April 2019 with the same period last year and found that the strong increase in job applications was particularly noticeable across these regions:

  • South East – Applications up by 13.1%
  • West Midlands – Applications up by 12.8%
  • East of England – Applications up by 10.3%
  • East of Midlands – Applications up by 8.1%
  • South West – Applications up by 5.5%
  • North West – Applications up by 5.4%

What’s more, a huge driving factor behind these hikes is likely the fact that average salaries for new jobs were up by 4.1% year-on-year, while the amount of job vacancies on offer grew by a smaller 1.4%.

Lee Biggins, founder and CEO of CV-Library, comments: “Pay packets are the first part of a job advert that professionals look at. So, it makes sense that there’s a correlation between salaries and applications rising. As well as this, it’s interesting to note that wages increased at three times the rate of job vacancies, suggesting that businesses have adopted a more focused approach to hiring.

“This ‘quality over quantity’ outlook may be the key to securing a greater number of candidate applications. It’s especially positive to see that job vacancies didn’t decrease as a result of this new trend. Vacancies and salaries have grown together, in a boom which is present in many regions across the country.”

What’s more, the data found that key UK cities saw above average increases in candidate applications year-on-year, including Bristol (15% rise), Brighton (14.4% rise), London (12.8% rise), Birmingham (10.5% rise) and Manchester (9.2% rise).

Biggins continues: “The overall increase in salaries and job vacancies has certainly resulted in some healthy competition amongst UK professionals. To attract the best quality candidates, businesses need to ensure that they have effective hiring strategies in place. Consider the types of tools you’re using and remember that small changes go a long way when the job market is so tight.”

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