Engineering job market continues to strengthen, though candidates remain cautious

As we settle into 2018, new data from the UK’s leading independent job board, CV-Library, reveals that the job market in the engineering sector is strengthening, with job vacancies and salaries both increasing in the last quarter of 2017.

In fact, advertised pay rose by 1.8% quarter-on-quarter, and 3.8% year-on-year.



What’s more, the report, which analysed job market activity in Q4 2017 and compared this with Q3 2017 findings and data from the same period in 2016, found that advertised job vacancies saw an increase of 12.7% year-on-year.

That said, this figure was a 7.2% drop when compared with data from Q3 2017.

Lee Biggins, founder and managing director of CV-Library comments on the findings: “It’s great to see that the job market in the engineering sector is flourishing, particularly when compared with data from the same period last year.

“In Q4 2016, the Brexit vote was still raw and very much in the forefront of everyone’s minds. This is not to say that this is no longer the case, as the future of the UK is still very uncertain.

“However, the increase in advertised jobs suggests that as the dust begins to settle, employers are continuing to invest in their recruitment efforts and are working hard to keep driving the economy forward.”

Despite the market flourishing, candidate appetite is not keeping pace, with applications in the engineering sector decreasing by 4.6% quarter-on-quarter.

While initially concerning, this drop is not surprising for this time of year; the market typically sees application rates slow down as the year draws to a close.

Biggins concludes: “Competition for the top candidates is tough, and this is reflected in the increase in advertised salaries across the industry.

“Though many companies might be reluctant to loosen the purse strings, it’s clear that offering competitive packages is important right now, especially given that unemployment is at its lowest in 42 years.

“The engineering sector is notorious for skills shortages, meaning that employers have to work even harder to find the right calibre of candidates.

“That said, the recent liquidation of the construction giant Carillion, who was involved in a number of public sector projects, could leave hundreds of engineers looking for work.

“Though the future of many of these professionals is yet to be decided, January and February are traditionally busy months for recruitment, with more jobs being advertised during this period.

“Application rates could be set to rise as job hunters in the industry look to land a safer and more secure role.”