Latest report from CV-library shows continued rise in UK salaries
The latest report from CV-Library has shown that business confidence remains strong compared to the previous month, with certain cities showing above average growth in wages during this period including; Cardiff (14.6%), Edinburgh (7.6%), Liverpool (7%), Portsmouth (6.4%) and Hull (4.6%)
UK salaries increased by 3.2% in October 2016, however, job applications were down three per cent compared to this time last year.
Despite this, drops in applications are a concern for businesses across the UK, with some of the biggest drops witnessed in Wales (-18.3%), Scotland (-12.2%) the East Midlands (-7.8%) and the South East (-6.4%).
Lee Biggins, Founder and Managing Director of CV-Library, comments: “It’s clear that widespread skill shortages are pushing up salaries across the UK, which is good news for job hunters looking for a new role in the next few months. But, while businesses are working hard to maintain the resilient job market that has withstood uncertain times, the fact that application figures are down suggests that candidate appetite is taking a major dip. Investments in wages are a good way to attract workers into a company, but clearly should not be the only means used to recruit the very best talent.”
Job vacancies are showing an increase of 4.8% compared to last year, with certain cities showing above average growth including: Southampton (11.9%), Manchester (11%), Edinburgh (10.8%), Birmingham (7.9%) and London (6.8%).
Also, job growth in certain industries; including catering (29.9%), manufacturing (27.6%), automotive (20.7%) and marketing (12.8%), all exceeded the national average for job growth.
Biggins adds: “It’s positive to see that certain industries and cities are outperforming the national average, which is good news for workers in these areas. Business confidence is at a tricky time right now: we’re nearing the end of a turbulent year, and there is still a great amount of ambiguity around the status of the labour market. But, with the Chancellor’s first Autumn Statement to be made in a few weeks’ time, it is hoped that this will be a chance to boost business, and consumer confidence, as we continue to navigate through EU negotiations.”