The latest job market data from the UK’s leading independent job board, CV-Library, reveals that in August 2023 the number of applications per job jumped by over a third to 38.3% year on year.
The job board analysed the thousands of job posts advertised on its site over the month, as well as the millions of job applications made to these roles, to work out the average application-to-job ratio in August, traditionally a quieter month in recruitment. The last time this ratio was higher was almost three years ago, in January 2021.
The industries and locations with the most significant increases were as follows:
Top 5 industries with application-per-job increases in August 2023
- Social care +142.8%
- Education +64%%
- IT +60%
- Construction +39.8%
- Distribution +39.2%
Top 5 regions with application-per-job increases in August 2023
- East Midlands +54.4%
- North West +49.4%
- West Midlands +47.3%
- North East +46%
- South West +45.5%
Lee Biggins, Founder and CEO of CV-Library said, “The job market is undoubtedly shifting. While job vacancies are still high, they’ve fallen from their peak levels in July 2022, and jobseekers are up against more applicants than they have been since January 2021. The other persistent factor is the cost of living: as it continues to squeeze, we are seeing more candidates returning to the job market looking to increase or supplement their income.”
Original Article: HRnews
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