Unemployment in the UK is currently at its lowest rate this Century. According to the ‘Report on Jobs: London’ by IHS Markit commissioned by REC demand for candidates has increased significantly over the last year; permanent placement growth has quickened and temporary billings have risen at their steepest rate for 5 months.
At the same time, the supply of staff has fallen with over 40% of recruitment consultancies in May reporting that the availability of staff has declined in comparison to the previous month. This, together with the rising demand for skilled workers, has resulted in more people in work and an upward pressure on wages.
A similar pattern can also be found when analysing our latest Aldrich performance data; Aldrich has found that the volume of candidates they place in permanent positions has increased by 17% since 2016 and Temporary placements by 54% reflecting the significant rise in demand for staff, this is most noticeable in marketing, business development, human resources, and graduates where Aldrich saw significant increases.
All the evidence shows that the market looks buoyant and it appears an ideal time to be searching for work in London; increasing demand and rising salaries, however, competition for the top jobs in the best companies is phenomenal. Improving your technical skills is one way to give you the edge over the competition as this is an area of skills shortage.
If you need any advice in your job search or skill set, please do contact us on 020 7588 8999.