The last three months have seen steady growth in the number of advertised jobs on offer, despite Brexit uncertainty, according to the latest UK Job Market Report from Adzuna. Pay rates are also on the rise, as average UK advertised salaries have outpaced inflation rates of 2 percent. Compared to the average salary on offer in April 2017 (£32,678), wages have been boosted 9.3 percent. Competition for jobs has also fallen to a record low, with a ratio of 0.21 jobseekers per vacancy in April. This means there are around five times more jobs being advertised than workers looking for new roles, the highest rate recorded since Adzuna began collecting the data seven years ago. Competition for jobs is now significantly lower than the ratio of 0.43 jobseekers per vacancy recorded a year ago, with the talent war showing no signs of letting up.

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One of the most commonly used and longstanding recruitment practices should be reconsidered according to new research from academics at Florida State University. Screening job applicants based on their prior work experience is often a mistake for employers because there appears to be little or no correlation between previous experience and future performance, according to a paper from Chad Van Iddekinge, FSU’s Bank of America Professor of Management and an expert on human resources management. (more…)

Brand new research from CV-Library, an independent job board, suggests that despite 64 percent of Brits working more hours than they’re contracted to, over half (55.1 percent) struggle to make ends meet at the end of each month.  The study surveyed 1,200 working professionals and found that over a third (36.7 percent) work 1-3 hours extra per week, amounting to 96 hours per year and meaning Brits are missing out on £1,606.08 unpaid overtime. In addition to this, 11.3 percent work more than 15 hours extra per week, totalling a staggering £12,045.60 unpaid overtime. (more…)

Record numbers of over-70s are choosing work over retirement, according to new analysis from Rest Less, a membership community site in the UK to offer work and volunteering opportunities specifically targeted at the over 50s. Using bespoke data provided to Rest Less by the Office for National Statistics, Rest Less’s analysis claims that the number of over-70s in full or part-time employment has been steadily rising year on year over the past 10 years, reaching a peak of 497,946 in the first quarter of this year – an increase of 286,000 or 135 per cent since 2009. Today, nearly 1 in 12 (8.1 percent) of those in their 70s are working, a significant increase from the 1 in 22 (4.5 percent) there were 10 years ago.

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Small and medium-sized enterprises (SMEs) have been a significant driver of employment growth in recent years, mainly through the creation of new firms, including in high-growth sectors such as information and communication technologies (ICT). But the new OECD SME and Entrepreneurship Outlook claims to highlight how most SME job creation has been in sectors with below average productivity levels, with SMEs typically paying employees around 20 percent less than large firms. While SMEs are more engaged in new organisational or marketing practices than large firms, and sometimes more innovative in developing new products and processes, many continue to struggle disproportionately with developing the skills and resources needed to navigate the increasing complexity in technologies and markets.

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