Recent research has analysed the behaviour of 4.8 million jobseekers and 5,000 recruiters each month, reveals that competition for jobs has risen to 18 applications per job, following a drop earlier in 2012. This is despite an overall increase in the number of jobs available across the country. Nationally, the number of available jobs rose by 5% year-on-year and 4% over the quarter.
Alarmingly, London, which has proved so resilient during the worst of the recession, has seen a dramatic fall in the number of jobs, with 7% fewer compared to the same quarter last year. In particular, London has been particularly hit by a fall in the number of jobs in the financial sector, which has decreased nationally by 9% year-on year. Catering and hospitality, jobs for which are disproportionately based in London, have also been hit, with 11% fewer jobs compared to the third quarter in 2011, indicating that despite the Olympic effect¹, London vacancies have declined, suggesting that the long-term employment benefits of the Games have not been realised.
The Totaljobs Barometer provides one of the most comprehensive representations of supply and demand in the UK job market importantly reporting three months ahead of official ONS statistics for which it stands up as a proven forecast. Today¹s figures show how UK recruitment has fared in the first quarter of 2012.