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Industry News

Published on November 3rd, 2016 | by The GC Team


Retail salaries, job applications and vacancies on the up

The latest data from independent job site CV-Library shows that retail salaries increased by 5.1% month on month in October, outpacing the national average salary growth of 3.2%.

According to CV-Library, investment from businesses across the retail industry is paying off, with applications increasing by 9.7% month on month.

But the year-on-year figure suggests that the sector’s overall labour market is in a trickier position than it was twelve months ago, as applications fell 17.5% on the previous year.

Lee Biggins, founder and managing director of CV-Library, said: “Many retail organisations are investing heavily in their future workforce, with salary hikes pointing towards increased business confidence. But, while application rates were up on the previous month, it’s clear that the industry is still struggling, with a significant drop witnessed when comparing year-on-year data.

“While this could be perceived negatively, it is clear that businesses are working hard to maintain the resilient job market in recent times and should continue to do so in the months leading up to Christmas.”

Job vacancies across the retail industry rose 3.1% in October compared to the previous month, making the sector one of the few to continue to rise after a busy September for hiring.

Many UK cities and sectors saw a drop in jobs during October, with the national average falling by 3.3%.

Biggins said it’s a positive for the retail sector to have witnessed strong job growth last month, but he cautioned that business confidence is currently at a “tricky time”.

“We’re nearing the end of a turbulent year and there is still a great amount of ambiguity around the status of the retail sector. But, with the Chancellor’s first Autumn Statement to be made in a few weeks’ time, it is hoped that this will be a chance to boost business and consumer confidence as we continue to navigate through EU negotiations.”

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