Jobs competition eases but pay down

Competition for jobs has fallen to a two-year low, but the picture varies wildly, with some cities having more vacancies than jobseekers and others seeing 30 candidates chasing each position, according to a new study.

Fewer applicants are chasing jobs in some parts of the country, new research shows
Fewer applicants are chasing jobs in some parts of the country, new research shows

Jobs site Adzuna said vacancies have increased by a fifth to 800,000 over the past year, although advertised salaries have fallen by 4.4%.

Long-term unemployment among 16 to 24-year-olds has doubled in the past six months, suggesting that youth unemployment is heading for "crisis point" said the report.

There are five jobs to every jobseeker in Cambridge, but in Salford 30 people are "scrambling" over every vacancy, according to the research.

Pay stagnation is hitting London the hardest, followed by East Anglia and the South East, said Adzuna.

Co-founder Andrew Hunter said: "More jobs are popping up all over the UK as employers gear up for a busy spring and, as a result, competition between candidates is easing. In many parts of the country there are now more jobs advertised than jobseekers, and top talent is becoming harder to source.

"The cost of living crisis is still far from over. UK workers have seen their pay packets shrink significantly since the recession.

"As vacancies continue to open up, and competition for jobs falls further, employers will be forced to increase advertised wages in order to attract the best talent. Now it is just a question of time until wages begin to pick up, and jobseekers begin to feel the benefits of cash in their pockets."

Mr Hunter said the Government desperately needs to inject cash into the North to even out Britain's "bi-polar" jobs market.