Recruitment normally finds itself in one of two conditions: low volumes of jobs, and employers having the balance of power, or high volumes of jobs and candidates having the balance of power.
In some niche markets, the balance never changes; in the general markets, the change of power is normally linked to the economy. A strong economy means lots of jobs, and so the candidates take the power seat by having the ability to pick and choose where they take their skills.
A key report just put out by Adzuna Jobs suggests there has been a 25 per cent increase in job adverts year on year, with advertised jobs growing to more than one million, reaching a post-recession record of 1,033,435 in April.
However, the number of candidates has declined to less than 800,000 for the first time since the recession, making it harder for employers to fill empty posts.
The competition for jobs fell to 0.77 jobseekers per vacancy in April, the lowest since the recession, and down from 0.81 in March and 1.39 compared to April 2014. Based on data from the Office for National Statistics, as well as Adzuna’s own market data, the report showed that vacancies in skilled work have increased as employers are advertising jobs at a faster rate than can be filled.
The maintenance sector has seen some of the biggest rises in vacancies, with a 38 per cent rise, with the trade and construction sector adding 11,000 more advertisements in April 2015 compared to the previous year – an increase of 28 per cent.
For people looking for work, the best city to be in is Cambridge, with an average 0.1 jobseekers per vacancy, meaning that employers have a more difficult time attracting the best talent. The city was closely followed in the five best cities to find work by Guildford (0.14 jobseekers per vacancy), Reading (0.17), Oxford (0.19) and Winchester (0.25)
On the flipside, job hunting was found to be most competitive in Sunderland, where on average there were 5.28 job seekers per vacancy. The list of the worst five places to seek work was completed by Hull in second (4.2 job seekers per vacancy), Bradford (4.13), Rochdale (3.21) and The Wirral (3.08).
Speaking about the report, Andrew Hunter, Adzuna co-founder, said: “This could be a warning sign that our workforce lacks the skills necessary to fill up many of the new jobs appearing. “The recovery certainly has the capacity to progress further and faster – but at the moment there’s a disconnect between our abilities and our economic climate. It’s like standing outside your recently fixed-up car, tuned up and ready to go, only to realise you’ve lost the keys.”
He urged the government to lead a cultural shift in making people aware of the diversity of jobs available as well the skills and training they would need to fill them.