Key findings:
- 119% year-on-year increase in November applications
- 48.7 applications per job – up 286%
- 24% decrease in jobs advertised
Tribepad has unveiled its autumn recruitment insights. The data paints a stark picture of the UK labour market, with businesses continuing to tighten hiring activity while job seekers intensify their efforts. A 119% year-on-year increase in November applications highlights a surge in activity, driven by fierce competition for fewer vacancies, making the average number of applicants per vacancy an astonishing 48.7.
Applications: a record-breaking response
Job seekers are demonstrating remarkable resilience—or, perhaps, desperation—in the face of declining job opportunities. Tribepad’s platform processed 4,530,894 applications between September and November 2024, marking a 64% increase compared to the same period last year.
- Applications per vacancy hit a new high – on average, there were 48.7 applications per job in November 2024—a striking increase from previous months. This figure represents a staggering 286% rise in applications per job compared to November 2023, underscoring the intense competition for roles in today’s labour market.
- November surge – applications processed in November alone soared by an extraordinary 119% year-on-year. This could be a result of candidates turning to AI to create more applications more quickly, increasing the volume of applications to a rate previously impossible.
Jobs: cautious hiring amid economic uncertainty
In contrast to the surge in applications, the number of job opportunities continues to decline. Tribepad customers advertised 165,320 jobs between September and November 2024, reflecting a 24% year-on-year drop as businesses grappled with economic pressures and uncertainty surrounding the Chancellor’s autumn budget.
- November sees sharper decline – job postings in November fell by 43% compared to the same month in 2023. This sharper decline could be tied to immediate reactions to increased National Insurance contributions and a general tightening of budgets.
- Autumn uplift – despite the overall downward trend, job postings during the autumn period were 34% higher than the quieter summer months (June-August). This seasonal boost was driven largely by recruitment activity in retail and hospitality, sectors that typically ramp up hiring ahead of the Christmas period.
What’s driving the trends?
The data reflects broader economic pressures on businesses and workers alike. With ONS data showing 28 consecutive months of declining vacancies, organisations are being forced to reduce costs while job seekers are faced with fewer opportunities and increased competition. Technology is playing a growing role, enabling candidates to apply more efficiently but also increasing the workload for employers managing a surge in applications.
The figures we’re seeing reflect a labour market in flux. Businesses are reducing their hiring activity in response to economic pressures and the recent budget, while job seekers are also responding to economic pressures – by seeking jobs. 48.7 applications per job is a clear sign of a highly competitive market, making it critical for employers to rethink their recruitment strategies to manage this influx and identify the best candidates. But at the same time, efficiency must not sacrifice fairness – removing bias and offering equal opportunities is absolutely key.
A call for smarter recruitment
Tribepad’s data highlights the need for businesses to adapt their recruitment processes to manage higher application volumes effectively. Smart hiring tools and data-driven decision-making are key to navigating this challenging landscape and ensuring businesses can attract and retain the talent they need.
About Tribepad
Tribepad is the trusted tech partner for recruiters who value both innovation and inclusivity. Headquartered in Sheffield, the platform serves 25 million people in 16 languages, empowering organisations like Tesco, Greggs, The NHS and Liverpool FC to streamline their hiring processes and promote fairer, more accessible recruitment. As a people-first company, Tribepad is redefining recruitment technology to drive a more equitable future.
