The Wave Q4 2024 Recruitment Trends Report highlights a sharp contrast in the recruitment market, with job postings decreasing while applications surged. This imbalance underscores a competitive environment for candidates as opportunities decline, but interest intensifies. The data presents challenges and opportunities for recruiters to adapt their strategies in a shifting market.
Quarter Snapshot
- Jobs posted: Decreased by 13% compared to Q3 2024.
- Applications: Increased by 27% from the previous quarter.
- Average applications per job: Increased to 47, up by 23.
- Most active industry (jobs posted): Education at 32%.
- Most active industry (applications received): Manufacturing with 33%.
- Tuesday: Most jobs posted (23%) and the most applications (19%).
- Job Boards: Totaljobs with the most jobs posted (22%) and most applications (22%).
Jobs and Applications by Month
The quarter began with a gradual decline in job postings, which can be attributed to the typical end-of-year slowdown in hiring. This trend culminated in a steep drop of 27% in December, marking a notable decrease in job opportunities as the year ended. In contrast, applications saw consistent growth throughout the quarter, with December experiencing a dramatic 109% increase compared to earlier months.
This divergence between job postings and applications suggests heightened competition among candidates as fewer roles became available.
Jobs and Applications by Quarter
In Q4 2024, job postings declined by 13% compared to Q3, marking the second consecutive quarter of reduced hiring activity. However, applications rose sharply by 27%, reflecting a significant uptick in candidate interest. This surge brings the total number of applications for Q4 to its highest level in 2024.
The growing gap between job availability and application volumes underlines increased competition among job seekers as the year comes to a close.
Jobs and Applications by Industry
Education dominated job postings in Q4 2024, contributing to 32% of all jobs advertised. IT & Internet followed with 13%, while Health & Nursing accounted for 8%. However, Manufacturing emerged as the frontrunner in terms of applications, receiving 33% of the total, likely driven by the sector’s appeal and availability of roles. Engineering & Utilities also saw strong application activity at 11%, followed by Health & Nursing at 9%.
This data underscores the varied industry dynamics, where job supply does not always align with candidate demand.
Average Applications per Job by Industry
Management Consultancy topped the chart with an astounding 741 average applications per job, reflecting an exceptionally high level of competition in this field. Science followed with 238, while Media & Creative roles received an average of 181 applications per job. Manufacturing also stood out with 176 applications per job, showing strong interest from candidates.
On the other hand, industries like Education and Social Services saw much lower levels of competition, with only 8 applications per job on average, highlighting a disparity in candidate demand across sectors.
Jobs and Applications by Channel
Job boards remained the primary driver of recruitment activity in Q4, hosting 85% of all job postings and receiving 89% of applications. Websites played a smaller but significant role, accounting for 15% of job postings and 9% of applications. While less utilised, social media still contributed to recruitment activity, with 1% of job postings and 2% of applications.
On average, job boards garnered 24 applications per job, far exceeding the 3 applications per job seen on websites and the 6 applications per job on social media. This data highlights the continued dominance of job boards in connecting recruiters with candidates.
Average Applications per Job Board
The performance of job boards varied significantly, with LinkedIn standing out as the most effective platform, averaging 232 applications per job. Niche boards such as Caterer.com also performed strongly, with 60 applications per job, indicating their appeal in specialised sectors. Other job boards like Indeed and Secs in the City followed, averaging 44 applications per job. Among classic boards, Totaljobs led with 28 applications per job, followed by JobServe with 31 and CV-Library with 13.
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