UK Job Market Remains Buoyant Post-Brexit
While browsing the headlines these days, it can feel hard to find a ray of light amongst all the doom and gloom, so we’re pleased to say that we’re able to bring you some good news for once!
Despite the dreary post-Brexit predictions and a significant drop in the value of the pound, the UK job market has continued to strengthen, with vacancies, applications and salaries all increasing.
Some Job Markets Experiencing Above Average Growth
According to a new report by job site CV Library, vacancies have gone up by 12% while applications and salaries are both up by 2% since 2015. Some cities, such as Southampton, Edinburgh and Manchester, have even seen above average growth for the time period.
While some of the increases may seem marginal, they are welcome news to UK industry after initial reports had predicted low or even negative growth across the market.
“It’s extremely positive to see that the UK’s labour market has stood strong in the face of ongoing uncertainty” said Lee Biggins, MD of CV Library. “This is a nice indication that businesses are confident about growing their workforce and it is hoped that this will continue well into 2017.”
That’s not to say the report was entirely rosy. While some cities saw above average growth, other major centres, such as Cardiff, Brighton and Bristol, saw significant downturns in applications. However, Biggins credits this to the fact that the data was collected over the summer, a typically quiet time for the job market – something that makes the more positive figures even more reassuring.
Of course, Article 50 has not yet been triggered and, although more news is emerging, we are unlikely to get a clearer picture of what Brexit really means for Britain until the negotiations get under way – or perhaps even afterwards – so the risk of inflation or a loss of consumer confidence in British industry could yet prove problematic.
Still, it can only be encouraging to hear that, despite the current uncertainty, the job market is still going strong and we hope that this continues long into the new year.
We’d love to get your opinion on this story and whether you’ve seen an increase in vacancies during your job search. If you’ve yet to find a perfect match with your experience and skill set, why not upload your CV to register with our expert recruitment consultants?