Despite this, the study, which explores job market data from February 2020 and compares this with figures from the same period in 2019, also reveals that job applications have risen by 8.2% year-on-year.
Indeed, the locations that experienced the largest growth in applications and are some of the best cities for hiring in this month, include:
- Brighton – applications up by 21.1%
- Bristol – applications up by 18%
- Edinburgh – applications up by 17.9%
- Leicester – applications up by 15%
- London – applications up by 14.9%
Lee Biggins, founder and CEO of CV-Library, comments: “It’s clear that candidates are pushing forward with their job search given that the dust has now settled after Brexit. This should be music to employers’ ears as lower salaries still haven’t deterred applications. The decline in pay does suggest that companies are nervous, but with more people actively looking for work, there really is no time like the present to start advertising your jobs.”
Despite salaries dropping, businesses are advertising more jobs than they were a year ago. In fact, the number of vacancies on offer in the UK rose by 2.8% year-on-year, with key cities witnessing an even larger increase, including Edinburgh (25.4%), Brighton (25%) and Portsmouth (10.3%).
Biggins continues: “Of course, while candidates may be willing to apply for jobs on a slightly lower salary, it’s still important to offer a competitive wage. However, if you’re not able to provide a bumper salary, be sure to include other benefits in the package you’re offering.
“This could include flexible working, a larger holiday allowance, or regular company social events. Remember, there are plenty of opportunities out there, so if you can’t make your jobs attractive and cater to their needs, your candidates will find another employer that will!”
