
According to the latest UK Job Market Report from Adzuna.co.uk, while overall wage growth is improving – as those in work receive long overdue pay rises – advertised salaries are moving backwards.
Indeed, August saw the average advertised UK salary fall to £33,318, down 0.6 per cent on July and down 3.3 per cent compared to £34,417 in August 2014. This, the survey added, was accompanied by “spectacular levels” of cross-regional decline. For the first time since January 2012, all areas of the UK saw advertised salaries fall on an annual basis. London and Scotland saw the largest annual advertised salary falls of minus 5.3 per cent and 5.2 per cent respectively.Read more on salaries:
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Andrew Hunter, co-founder of Adzuna, said: “As the summer’s heat draws to an end, advertised salaries are also cooling off. The pay packets being offered for new roles are substantially lower than this time last year, and are falling in every region across the UK.
“This national phenomenon confirms that the jobs market is starting to slow down, with an influx of entry-level and low-paid vacancies reducing average advertised salaries. The skills shortage has not benefited job hunters as might be expected. “Counter-intuitively, it’s currently easier to climb the career ladder by staying in your current role and asking for a pay rise than by looking to move into a new position.” Advertised vacancies grew as job openings were left unfulfilled, with 1,150,396 positions available in August, two per cent higher than July and up 27.1 per cent year-on-year.Share this story