Competition for construction jobs heats up, but pay only just keeps up with inflation

The number of professionals applying to new construction jobs jumped up by 32.9% in May 2019, despite average pay only just maintaining pace with the inflation rate, at 1.9%. That’s according to the latest job market data from the independent job board, CV-Library.

What’s more the findings, which compared data from May 2019 with the same period last year also found that newly advertised job vacancies rose marginally by 0.7% year-on-year.

Lee Biggins, founder and CEO of CV-Library, commented on the findings: “Despite average pay for jobs in construction not keeping up with inflation last month, our data shows that job hunters are still keen to search and apply for new roles. This is promising news for businesses that are looking to grow their teams.”

Even more construction professionals are showing an interest in making their next career move right now, with candidate registrations soaring by 38.1% in the past month.

Biggins concluded: “While it’s fantastic that employers have been able to maintain interest from construction professionals despite not increasing pay in line with inflation, it’s questionable whether this is sustainable. 

“Moreover, with Brexit due to go forward on October 31st, this summer is the prime time to find highly skilled candidates, so prepare your business for Brexit by plugging the skills gap that will be left in the absence of EU migrants. However, the only way to secure top talent is by ensuring that you’re offering competitive rates of pay. Now’s not the time to make cuts!”