Britain’s job market is booming, with more vacancies than unemployed people for the first time in history.
The UK is experiencing a record low unemployment rate, with the number of job vacancies at an all-time high. This is a historic moment that has never been seen before. It’s a great time to be a candidate, but there are still some things to consider when looking for a job
For the first time in UK history, there are now more job vacancies than unemployed people
The number of job vacancies has been rising steadily since the beginning of 2016, while at the same time the number of unemployed claimants has continued to fall. The latest figures show that there were 771,000 unfilled jobs in May 2018 – a record high figure since records began in 2001. These vacancies are spread across every sector of employment including manufacturing, construction and retail as well as professional services such as accountancy or law firms.
However, while this may seem like great news for those looking for work, research shows that there are still some areas where there are skills shortages within certain industries which means that employers cannot find suitable candidates to fill their open positions – especially if these roles require specific training or experience levels which may not be available locally.
The milestone was reached after new vacancy figures from the Office for National Statistics showed that the number of jobs rose by 76,000 to 828,000 between December and February. The figure was driven by a rise in vacancies in industry and construction. The data also revealed that there are currently 26 people chasing every advertised job vacancy. This is below the peak of 35 recorded in 2011 but still much higher than pre-recession levels when there were typically around 18 candidates per opening.
This means that employers are competing harder than ever to attract and hire skilled candidates. Wage growth is expected to rise as employers compete for the workers they need. Candidates need to work on their soft skills to stand out from the crowd as well as being proactive by applying for jobs that they are interested in, rather than waiting around for them.
Although there has never been a better time to be a candidate in the UK, there is unfortunately still a clear bias against the unemployed. The employment market is booming, and employers are increasingly competitive in their recruitment processes. However, many companies are still only willing to consider candidates who have been in work for at least 12 months or more – even if those candidates do not meet all the criteria specified by the job description. It’s this type of discrimination which prevents people from getting back into work, especially if they have been out of work for two years or more.
Candidates need to work on their soft skills to stand out from the crowd.
You may be thinking that it’s all about your technical skills, but this is not the case. You might think that being able to use a specific piece of software or being able to write code in a particular language will get you noticed. However, there are other fundamental skills that employers are looking for in their potential candidates.
These soft skills include team working and communication skills, as well as having an understanding and appreciation of the business side of things. Employers want people who can work well together on projects and who communicate effectively with others in different departments or teams within an organisation.
You don’t always have to be looking for a job, but when you do find yourself in need of one, it is good to know that there are more than enough vacancies available. If you have been out of work for some time, don’t feel discouraged; employers are competing hard against each other to attract and hire skilled candidates. Using a recruitment agency like THE Agency that work closely with you to pick the right role and make sure you can ace the application at all stages is the best move in this market. Not only will you be reassured that you secure a role, you will also be looked after once the job has begun too.
