The study, which explores job market data from January 2020 and compares this with findings from the same period in 2019, reveals that businesses have regained their confidence in the UK economy, as job numbers grew by 2.8% year-on-year. What’s more, key industries witnessed above-average growth, including:
- Social Care (up 25.1%)
- IT (up 19.9%)
- Legal (up 19.7%)
- Design (up 13.4%)
- Telecoms (up 12.6%)
What’s more, the data reveals that professionals responded well to this increase in confidence, as applications also rose by 5.7% year-on-year. Indeed, the industries which saw the highest growth in applications include IT (up 40.5%), Legal (up 30.8%) and Design (up 16.4%).
Lee Biggins, CEO and founder of CV-Library comments:
“Our data clearly shows that the looming Brexit deadline didn’t slow businesses (or candidates) down during January. While it’s typically a busy month for hiring, the significant year-on-year growth of both job vacancies and applications suggests that the UK job market is in a very healthy position. As such, it’s imperative that organisations continue to make the most of this increased talent pool; and double down on their hiring efforts throughout the rest of 2020.”
Interestingly, the data also went on to reveal that salaries rose in key industries across the UK, including in the property (up 9.8%), legal (up 8.5%), retail (up 8.4%), electronics (up 6.1%) and engineering (up 5.3%) sectors.
“The influx in pay has been a growing trend for many months, as businesses attempt to pull out all the stops and attract more candidates to their vacancies. However, this isn’t always a strategy that pays off. Instead, employers should focus on refining their entire hiring process in order to remain competitive. Take the time to improve your job postings, invest in the best hiring tools and start the search for your next hire, now.”
CV-Library is one of the UK’s largest online job sites and attracts over 4.3 million unique job seekers every month. Founded by Lee Biggins in 2000, CV-Library is the UK’s leading independent online job board with a database of over 14 million CVs.