Job search engine Adzuna released a thorough overview of job vacancies, average salaries, competition dynamics, and trending roles in the UK at the end of 2023.
Adzuna’s data offers an in-depth, real-time view of the UK job market, sourced from over 1,000 online platforms, providing crucial insights for job seekers and employers navigating the evolving employment landscape.
The recent UK Job Market Report highlights a significant milestone: vacancies plunged below 1 million in November, marking the lowest count since May 2021.
Job Vacancies and Market Decline
The decline in advertised vacancies reflects a -2.7% drop from October to November, culminating in just 998,562 job postings. Compared to the same period last year, this showcases an -8.6% decrease, marking the first instance in 2023 where the annual decline worsened month-on-month.
Despite this slump in vacancies, advertised salaries are showing an upward trajectory, surging by +0.7% in November compared to October figures. Additionally, a year-on-year increase of +1.8% reveals a rise in average advertised salaries, hitting £37,221 in November 2023.
The average time taken to fill vacancies has extended to 35.8 days, reaching its highest point in three months. Concurrently, the number of jobseekers per vacancy has risen to 1.56 in November, marking the highest level observed this year, up from 1.49 in October.
Regional Insights and Industry Trends
Cambridge maintains its status as a prime city for job seekers, though competition has slightly intensified, with 0.28 jobseekers for every available job. Conversely, Bradford continues to pose challenges for job seekers, with approximately 5.77 applicants per job throughout 2023.
Wales stands out as the region with the strongest annual growth in advertised vacancies, recording a +7.3% increase. However, London faces a notable -16.6% decline in advertised vacancies annually, with 190,462 vacancies reported in November 2023.
Teaching roles saw a remarkable +41.5% surge in November compared to the same period in 2022, mirroring a trend observed throughout 2023. Contrastingly, HR & Recruitment faced a challenging year, experiencing a consistent decline in available jobs.
Various sectors witnessed nuanced shifts in advertised salaries. Social Work exhibited the most substantial annual increase (+10.9%), reaching £33,767, while IT salaries saw a decline of -8.8% compared to November 2022.
Occupational Insights and Industry Durations
Job ads in Admin, Property, and Social Work sectors take an average of around 31.9 to 32.9 days to fill, whereas roles in Energy, Oil, and Gas require approximately 42.6 days, reflecting the specialized skills needed.
Warehouse work maintained its status as the top trending job, followed closely by lorry driving roles and Social Care Worker positions, showcasing sustained interest among UK job seekers.
