Three quarters of cities in the UK have more job vacancies than jobseekers, according to new research from jobs market, Adzuna.co.uk.
The company said much of the country is still suffering from a skills shortage, with 41 of the top 56 cities reporting that they don't have enough applicants to fill job vacancies. In comparison, just 27 cities lacked capable applicants.
Advertised vacancies are increasing steadily, as seasonal roles and graduate jobs flood the market. There were 1,178,129 vacancies in September, 2.4% higher than August’s figures and up 30.0% compared to twelve months ago. Despite these rises, positions are proving increasingly hard to fill.
The number of jobseekers has fallen to 685,456, the first time since the recession this figure has dropped under 700,000. More workers are entering part-time and temporary jobs, while some jobseekers are looking to self-employment for a regular income, further depleting the number of job hunters competing for permanent positions.
As a result, job competition has fallen to a post-recession record low of 0.58 applicants per vacancy, down 6.9% from 0.62 in August and 43.1% from 1.02 jobseekers in September 2014. At the same time, data from the ONS shows the UK unemployment rate is at its lowest level since 2008, falling to 5.4% in September.
Andrew Hunter, co-founder of Adzuna, said: “Job competition has fallen to its lowest level since the recession, which should spell good news for those searching for work. But despite the number of positions growing with a new vigour, the significant skills shortage within the labour force means vacancies are increasingly being left empty. Many cities don’t have enough home-grown talent to fill new positions, meaning companies are increasingly relying on workers from elsewhere in the UK as well as from overseas.
“For many jobseekers, the solution to finding employment is increased mobility, but the traditional migration from North to South needs to be broadened. Flexibility is emerging as a key requirement. With the arrival of Crossrail in the future and ever-extending transport networks set to benefit all regions of the country, migrating to a different city could be the proactive approach to securing work. Graduates in particular, should look beyond London and embrace a new appetite for adventure when it comes to work location.