The UK labor market is coming under significant pressure as the number of applications per advertised job rises dramatically, reflecting deep-seated economic uncertainties and a tight employment environment.
According to data from talent recruitment platform Tribepad, the average number of applications per job opening in November was 48.7 – an astonishing 286% increase from the same month last year. In rough terms, candidates are sending many more CVs: the total number of applications between September and November rose to more than 4.5 million, up 64% on the year.
The figures were released just weeks after the Chancellor’s autumn budget, prompting businesses to rein in spending and hiring. Tribepad’s analysis points to a 24% year-over-year decline in the number of jobs advertised between September and November, despite a modest seasonal boost as retailers and hospitality businesses scaled up for the holidays. November alone saw a particularly sharp decline, with the number of vacancies falling by 43% compared to 2023.
This imbalance – few jobs and an abundance of applicants – puts employers and candidates on edge. Despite the rollout of shared recruitment platforms and automated recruitment tools, employers are faced with a flood of applications that can be difficult to manage. Some analysts suggest the spike may be partly due to job hunters using artificial intelligence to generate more applications faster, in an effort to maximize their opportunities in a cutthroat environment.
Meanwhile, employees are feeling the pressure. After 28 consecutive months of declining vacancies, opportunities are scarce and competition is fierce. While some sectors, including retail and hospitality, offered a brief reprieve in the fall, many companies are in the process of scaling back permanent hiring or shifting resources elsewhere.
Dean Sadler, CEO of Tribepad, said: “The increase in the number of applications per job to an average of almost 50 is a clear sign of an extremely competitive market. Employers need to rethink their recruitment strategies, not only to manage volume efficiently, but also to ensure fairness and eliminate bias. It is crucial that, despite the influx, the recruitment process remains fair and gives everyone a fair chance.”
With economic headwinds continuing to burden both businesses and households, the UK labor market looks set to remain a challenging battleground in the new year.