Adzuna Job Market Report!! August 2016!

Transcription

1 Adzuna Job Market Report August 20

2 UK Job Market Report August 20 Jobseekers over 1,000 worse off in real-terms as rising inflation hits earnings Table 1: Adzuna Job Vacancy Index Vacancy Index UK Vacancies Monthly Change 6M Change 12M Change (June 2012=100) Vacancy Index ( ) 1,4, % 7.0% 2.4% 7.7 Vacancy Index (Jun ) 1,7, % - 0.6% 6.0% 8.1 Table 2: Adzuna Average Salary Index UK Average Salary Monthly Change 6M Change 12M Change Salary Index (June 2012=100) Salary Index ( ) 32, % - 2.7% - 2.4% 95.4 Salary Index (Jun ) 32,7-1.0% - 1.9% - 2.9% 95.5 Key points: Advertised salaries fall to 32,688 in y, down 2.4% annually, from 33,505 a year ago as employers delay investment Wages down 3.0% p.a. in real terms, equalling an average earnings loss of 1,011 to workers pay packets, as inflation starts creeping upwards Salary split emerges as advertised salaries fall in half of UK cities with the Midlands bearing the brunt as Nottingham, Leicester and Birmingham all see monthly salary falls Graduate salaries slip to 23,609, dropping 4.3% year-on-year, as new graduates face a harder start to their career 2

3 Overview The Adzuna Job Index this month shows 1,4,993 roles being advertised across the UK, a 7.0% increase on the number of vacancies being advertised six months ago, as the UK job market continues to show resilience following the Brexit referendum result in June. Competition for jobs dropped to 0.49 jobseekers per vacancy, down from 0.61 claimants per advertised role in January of this year.. Marking a new eight month record low, experts believe his is largely due to a drop in the total number of UK claimants. Advertised salaries continue to slide The UK s salary slowdown remained in force in y 20, as employers continued to show reluctance to pay top salaries to attract new team members to their organisations. Average advertised salaries fell 2.7% in the six months to y 20, dipping to 32,688 nationwide. Looking further back, the story remains bleak: compared with 20 pay rates, advertised pay dropped 2.4%, as salaries continue to stagnate across the country. These decreases in pay promises show a continuing trend towards austerity on the part of Britain s employers. Brexit gives employers pause for thought Doug Monro, co-founder of Adzuna comments: Before the UK voted for Brexit, the job market seemed to be heading in the right direction. Unemployment had fallen to its lowest post-recession level and fewer people were joining the queue for jobs. The spectre of Brexit has added extra caution to the mix for employers, but is unlikely to derail the recovery. Over the next couple of the months, employers will be keeping an eye on their bottom line as the pressure builds on them to keep the doors open to new hires. Laying the groundwork overseas would help reassure many. One place where the result is already being felt is salaries. As well as battling other applicants, rising inflation and a weak pound have made getting a job more urgent as the value of wages is cut. Salaries are certainly starting to stagnate again so switching roles could prove to be a good move for many. Where are all the jobs? While Cambridge continued to lead the field as the best place to look for work in the UK last month, boasting the lowest competition rate for available roles (0.07 jobseekers per vacancy), Belfast became the toughest city for job hunters, with more than 4 candidates fighting it out for every available role. On a regional level, salary stagnation pervaded all 12 regions of the UK, as advertised pay fell in every area studied. The decline proved most intense in the North East, as advertised pay slipped 4.0% compared with 20 levels. Comparatively, the South East of the country saw the smallest dip, falling just 0.4% YoY. 3

4 Chart 1: UK Advertised Vacancy Trends Vacancies 1,300,000 1,250,000 1,200,000 1,0,000 1,100,000 1,050,000 1,000, ,000 Month Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 5.5% 4.5% 3.5% 2.5% 1.5% 0.5% -0.5% -1.5% -2.5% -3.5% % Change Total Vacancies % Change MOM Vacancies Chart 2: UK Advertised Salary Trends Average Salary (per annum) 34,000 33,800 33,600 33,400 33,200 33,000 32,800 32,600 32,400 32,200 32,000 Aug Sep Oct Nov Dec Jan Month Feb Mar Apr May Jun 1.0% 0.5% 0.0% -0.5% -1.0% -1.5% % Change Average Salary % Change MOM Salaries Jobseekers per Vacancy Chart 3: 6 month change in Jobseekers per Vacancy Feb Mar Apr May Jun Month 4

5 Best and worst cities to find a job August 20 Worst cities to find a job Map to be added by IP Jobseekers per vacancy Rank City 1 Belfast Sunderland Hull Bradford Middlesbrough Wolverhampton Rochdale Salford Swansea Wirral 1.62 Best cities to find a job Jobseekers per vacancy Rank City 1 Cambridge Guildford Oxford Reading Winchester Exeter Bristol Slough Manchester Crawley 0.24 o Belfast was named the toughest city for jobseekers for the first time in y 20, with 4.05 jobseekers competing for every advertised role in the city. This makes the Northern Irish city more competitive than both Sunderland and Hull, were competition for work has historically been very high o Further south, Cambridge and Guildford continue to rank top of the charts as the best places in Britain for those seeking new employment, boasting the lowest competition rates of all towns and cities. Both locations offer more than 10 available roles per jobseeker. * Methodology for calculapng jobseeker compeppon compares jobseeker count idenpfied in the ONS Claimant Count released in August 20, with monthly adverpsed vacancy numbers on Adzuna.co.uk in JJuy 20. 5

6 o L> Regional Wage Breakdown Region Total Vacancies Average Salary Salary % 12 Month Change Eastern England 105,469 30, % East Midlands 62,563 29, % London 247,505 39, % North East England 30,920 28, % North West England 100,594 29, % Northern Ireland 5,288 29,0-1.5% Scotland 39,146 30, % South East England 184,120 31, % South West England 83,6 29, % Wales 20,945 29, % West Midlands 88,839 30, % Yorkshire and The Humber 55,945 29, % o o o Average advertised salaries continued to fall year-on-year in all 12 regions of the UK The biggest annual drops in advertised pay were found in the North East (-4.2% YoY) and the East of England (-3.9% YoY) The South East showed greatest resilience, with advertised pay dipping just 0.4% year-on-year, marking the the smallest decline of all UK regions UK job sector breakdown Biggest Improvers - Job sector by average salary Job Sector Average salary Salary % 12 Month Change Total Vacancies Domestic help & Cleaning Jobs 28, % 3,471 Maintenance Jobs 36, % 3,486 Consultancy Jobs 48, % 11,857 Property Jobs 31, % 11,982 PR 35, % 24,262 Worst performers - Job sector by average salary Job Sector Average salary Salary % 12 Month Change Total Vacancies Social work Jobs 28, % 25,538 Legal Jobs 39, % 20,303 Logistics & Warehouse Jobs 26, % 30,060 Manufacturing Jobs 28, %,423 Customer Services Jobs 20, % 25,970 6

7 Press contacts Tora Turton, Instinctif Partners Report author Becky Harkins, Adzuna About Adzuna Adzuna.co.uk is a search engine for job ads used by over 9 million visitors per month that aims to list every job, everywhere. We search thousands of websites so our users don't have to, bringing together millions of ads in one place. By providing smarter search options and powerful data about the job market, we give jobseekers the information they need to take control of their careers. Adzuna s data also powers the Number 10 Dashboard, used by the Prime Minister and senior officials to keep track of economic growth on a daily basis. Adzuna.co.uk was founded in 2011 by Andrew Hunter and Doug Monro, formerly of ebay, Gumtree, Qype and Zoopla and is backed by leading Venture Capital firms Passion Capital, The Accelerator Group and Index Ventures. Adzuna s mission is to be the best place to start looking for a job. We love using the awesome power of technology to help match people to better, more fulfilling jobs and keep Britain working. About the Adzuna Job Market Report Adzuna has the most complete index of UK job vacancies covering all regions in the UK. The technology collects every job vacancy advertised online in the UK from over 1000 sources. This data is then normalised, de-duplicated, mix-adjusted and outliers are removed in real time to give users an accurate, complete, up to the minute view of the job market. Claimant count data is based on the latest Labour Market Statistics released in August 20 by the ONS. The city areas referred to in this study are the top 50 cities in the UK, ranked by comparing the job vacancies in Adzuna s comprehensive search index of over 1,000,000 live jobs to the number of claimants in each city from the latest ONS data released in August 20. The full Jobseeker s Allowance claimant count statistics are available for download here: 7