City sees increase in jobs and jobseekers

City job vacancies are growing while the number of jobseekers is twice the rate of vacancies, according to the latest figures from Morgan McKinley.

File Folder Labeled as Job Descriptions.

 

The number of jobs in the City has increased by 10K since mid-2021, with the number of applicants standing at 21,000, according to the latest figures from Morgan McKinley’s London Employment Monitor.

Year-on-year, the figures are also very positive. The number of jobs available have grown by 164%, while job seeker numbers have also seen substantial growth with a 52% increase on this time last year.

Hakan Enver, Managing Director, Morgan McKinley UK, said: “Despite the strong uptick in both vacancies and job seekers, the sector can’t afford to become complacent. The jobs market is overflowing with opportunities for candidates and employers are fighting harder than ever for the right talent. The challenge of hiring and hanging on to the best people continues to be a top priority for many businesses as they realise that the cost of losing an employee is more than offering a salary increase. Candidates can be difficult to find in certain areas with an increasing skills shortage especially in cybersecurity, software development and data which has seen huge demand over the last 18 months.”

The monitor shows an increase in applications for the UK Global Talent Visa in the past year, which Enver said would help to address skills shortages.

The average salary change for someone moving from one company to another in Q3 rose to 22%; the highest since Q3 2018. In July 2021 alone, it peaked at 27%, the highest month since Morgan McKinley’s records began.

Enver said: “There is no doubt the post-Covid recovery has created competition for talent and therefore resulted in salaries increasing. That said, a number of individuals are choosing to stay in their current roles, until at least bonus season has concluded, but those that are more open to moving now, are benefiting from considerably higher compensation packages.”



Post a comment

Your email address will not be published. Required fields are marked *

Your Franchise Selection

Click the button below to register your interest with all the franchises in your selection

Request FREE Information Now

Your Franchise Selection

This franchise opportunity has been added to your franchise selection

image

title

Click the button below to register your interest with all the franchises in your selection

Request FREE Information Now


You may be interested in these similar franchises