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Job Market Report – Q4 2014

Posted: Thu 12 Feb 2015

The UK job market experienced a traditional dip in job hunting activity in the last quarter of 2014, with candidates dedicating less time to their job search than in Q3 2014. This was to be expected, and went hand in hand with the country slowing down for the typically quiet festive period. However, in comparison with figures from the same time in 2013, CV-Library can report a substantial increase in year on year activity.

Key Findings
* The number of job applications decreased by a marginal 3% between Q3 and Q4 2014, however there was a 15% increase in activity year on year.
* There was also a 2.5% drop in the number of job searches being carried out between Q3 and Q4 2014. However, the Q4 data did represent a 5.5% year on year increase in total.
* It was great news for our CV Database however – we saw an 8% increase in CV registrations between Q3 and Q4 of last year, and a +15% year on year total.
* In Q4 2014, every 8 job searches converted to an application, compared with a 9:1 ratio in Q4 2013 – data which reveals job hunter follow-through rates are improving!
* Competition for jobs increased slightly between Q3 and Q4 2014, with the average number of applications per job going from 16.5 to 17.5.

Industry Trends
The Administration sector continued to prevail as the country’s most popular employment industry, making up nearly 16% of the nation’s total job applications in recent months. Competition for jobs in this industry moved from 51 applications per job, to 59 – so Administration retained its title as the UK’s most competitive job sector.

In terms of number of applications, Engineering (at 10.5%) and Construction (at 8%) came a close second and third. Sales and Customer Services both contributed to around 6% of total job applications.

The Construction (+3.5%), Distribution (+3%), Customer Services (+2.5%) and Manufacturing (+1%) sectors all received more applications in Q4 2014 than they did in Q3. In comparison, sectors which decreased in popularity included Sales (-3%) and Retail, an industry that saw application numbers dropping by a massive 18% between quarters.

Location News
Job seekers in some locations were unseasonably active and influenced a regional increase in application numbers throughout Q4!
Southampton job hunters applied for 8.5% more jobs in Q4 than in Q3 and those in Newcastle applied for 3% more. In Scotland, Edinburgh saw a 4.5% increase.

Salary by Industry
Below are the average minimum and maximum salaries for the five most popular sectors, during an average month in Q4.
Industry                                                                   Salary

Administration                                                       £20,517 – £22,971
Engineering                                                           £30,670 – £36,575
Construction                                                          £36,371 – £44,664
Sales                                                                     £24,514 – £32,914
Customer Services                                                £18,176 – £20,668

Conclusion and Analysis

Year on year figures reveal impressive growth
Despite a dip in activity between Q3 and Q4, the nation’s job hunters carried out 5.5% more job searches and 15% more job applications than during the same period of 2013. On top of this, CV-Library experienced record site traffic with a 15% increase in CV registrations between Q4 2013 and 2014.

So, whilst December continues to be the slowest month for job hunting activity, 2014 was in general a far busier year for UK job hunters, with more people searching for – and applying to – even more jobs.

The top five industries (in terms of application popularity) were Administration, Engineering, Construction, Sales and Customer Services.

Whilst locations such as London and Liverpool are likely to remain the country’s top spots for recruitment activity for some time, increased dedication from job hunters in other areas (Southampton, Newcastle and Edinburgh) reveals a promising tendency towards improved employment figures in these areas.

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