London’s Job Growth Falls behind the Nation
CV-Library, the UK’s largest independent job board today reveals how London’s job growth slowed last month, placing it behind the national average. Whilst, job postings in the city rose by 14.8% in August 2015, compared to August 2014, it still fell -12.4% behind the nation’s average job growth of 16.9%.
London’s job postings accounted for 38.4% of jobs in the South East, comprising a large proportion of jobs in the region. However, the city’s job growth was lower than that seen in the region as a whole, with the South East reporting year-on-year (YoY) growth of a 15.2%; 2.7% higher than London.
The broader UK growth map is also a little discouraging for the city, putting it 8th on the list of top 10 UK cities with strongest YoY job growth in August 2015:
- Liverpool – 41.7% growth
- Edinburgh – 29% growth
- Birmingham – 26.6% growth
- Leeds – 24.7% growth
- Manchester – 23.3% growth
- Cardiff – 21% growth
- Bristol – 18.3% growth
- London – 14.8% growth
- Hull – 10.7% growth
- Southampton – 9.5% growth
In addition to slow job growth, the city also saw a lower-than-average rise in the number of job applications being made to roles in the city. Job applications went up by 10.9% in August 2015, compared to August 2014, whilst the Nation as a whole saw a much higher increase of 16.5%.
Month-on-month numbers for the city have also taken a summer dip. Whilst this is traditional in the jobs market, London’s decline was once again greater than that seen nationally. The number of job postings in London dropped by 25.2% between August 2015 and July 2015, whilst job applications in the same period reduced by 10.6%, both of which were lower than those seen on a national scale (-23% and -10.5% retrospectively).
Lee Biggins, founder and managing director at CV-Library explains: “It’s normal for the job market to slow during August due to school holidays and annual leave. However, the fact that London is seeing such slowed growth in comparison to the rest of the country is concerning and indicates that more needs to be done in the city. We hope job numbers and applications will pick up by the end of September.”
For further information visit www.cv-library.co.uk.
This was posted in Bdaily's Members' News section by Michelle Smithson .
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