UK jobs market | Job ads down by 47% last month

Job ads down by 47% last month

Throughout the pandemic, the strain on business has been evident. From forced closures to staggered reopenings and stringent measures put in place for customers and staff alike, businesses have grappled with economic downturn and ever-changing regulations as a result of coronavirus crisis.

Unsurprisingly, this has led to widespread redundancies and business closures; the likes of John Lewis, EasyJet, Upper Crust, Arcadia Group, Harrods and Royal Mail have cut thousands upon thousands of jobs.

As a result, the recruitment market is currently experiencing one of the largest downturns in recent history. According to the latest job market data from CV-Library, the volume of jobs being advertised on its site fell by 47% in July, compared to the same period the previous year.

Yet, as the reopening of the UK continues, these numbers are improving. There were 31.7% more vacancies up for grabs than there were in June; suggesting that the job market is slowly picking back up.

The job board analysed data from its site throughout the month of July and compared the findings with data from July 2019 and June 2020 to build an understanding of how the UK jobs market is fairing right now. It revealed that applications to these roles have increased by nine per cent year-on-year and 16.7% month-on-month; causing the application to job ratio to soar by a massive 105.8%.

What’s more, further analysis shows that the cities that experienced the biggest drop in job vacancies year-on-year were Aberdeen, down 73.9%, Glasgow, down 57.9%, Portsmouth, down 55.1%, Bristol, down 54.7% and finally Leeds, down 52%.

Key industries also saw job numbers drop significantly year-on-year, including catering, down 83.9%, design, down 79.7%, administration, down 77.8%, media, down 76.2% and leisure/tourism, down 75.9%.

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When looking at the most competitive locations in which to find a new job, the data revealed that the application to job ratio rose by 152.5% in Northern Ireland, 151.7% in the South East, 148.8% in the South West, 139.7% in the East of England and 102.3% in the East Midlands. The only industries to see an increase in job adverts year-on-year were the public sector, where vacancies rose by 61.9%, and social care, where they increased by 2.7%.

“Demand for jobs is still outstripping supply and this will be a trend that we’ll continue to see for some time,” said Lee Biggins, Founder and CEO of CV-Library. “Naturally, the summer months tend to be a quieter time for both recruitment and job searching. However, the fact that our economy is struggling means there are fewer opportunities up for grabs than normal and more people looking for work; not an ideal combination.”

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