Vacancies Outnumber Candidates for the First Time since the Recession
For the first time since the start of the recession, the number of advertised job vacancies has overtaken the number of candidates, following a 25% year on year increase in vacancies.
A study has shown that there were 936,696 vacancies advertised during the month of October, comparing to 887,771 jobseekers. These figures equate to a ratio of 0.95 vacancies for each candidate; the ratio was 1.02 in September and 1.69 in October 2013.
The lack of candidates is caused by a decrease in the number of unemployed people – over half a million fewer than a year ago.
This has put job seekers in a much stronger position than they were in a year ago as employees offer higher salaries in order to attract the right candidates. Advertised salaries have also increased year on year, by 4.3% to an average of £34,670. This increase has been seen throughout all regions of the UK (except Scotland).