Friday, July 3, 2020

Employer confidence rises as restrictions ease – data

Employer confidence began to pick up in May as lockdown restrictions eased, the latest job market data shows.

The CV-Library study looks at job market data throughout May and compares this with figures from the previous month and year, to build an understanding of how the UK labour market is really fairing right now.

Indeed, it appears that the biggest job booms were in the North and Midlands, with the following cities experiencing the largest increases in job numbers last month, when looking at month-on-month data. Leicester experienced the biggest rise at 27.6%.

Alongside this, the industries that saw the biggest jumps in vacancies include automotive (+176.8%), leisure/tourism (+43.4%), recruitment (+42.3%), distribution (+33.8%), marketing (+32.1%), retail (+27.1%), design (+26.9%), accounting/finance (+22%), construction (+20.9%) and education (+18.7%).

However, despite these reassuring figures, it is important to note that when looking at year-on-year data, overall job numbers were down by 67.9%. What’s more, none of the locations or industries monitored in the report saw a rise in jobs year-on-year.

“As lockdown restrictions begin to ease, the market is starting to show signs of recovery and it’s promising to see job numbers picking back up across the country; particularly in sectors that we know have been suffering,” said Lee Biggins, founder and CEO of CV-Library.

“However, there’s still a long way to go and we cannot expect figures to return to normal overnight, especially when businesses are under a lot of financial pressure.”

The data shows that while applications also dropped by 1.6% month-on-month and a further 31.6% year-on-year, the overall application to job ratio increased significantly last month; rising by a staggering 112.9% year-on-year. This means there was a substantially higher number of applications for each role advertised in May.

When looking at industry data, the sectors with the biggest increases in applications per vacancy include hospitality (+507.2%), agriculture (+490.7%), customer service (+308.1%) sales (+305.9%) and media (+294.5%).

Biggins added: “While applications may be down overall, the fact that there are less jobs being advertised than normal, and more professionals entering the job market, means competition for jobs is already beginning to intensify.

“This will put employers in a favourable position as the labour market continues to shift, but it’s important for companies to think seriously about their recruitment and retention efforts; especially when the furlough scheme does eventually come to an end.”

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