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UK – AVERAGE ADVERTISED SALARIES REACH HIGHEST LEVEL IN NEARLY TWO YEARS

Average advertised salaries in the UK for January reached its highest level since April 2016, according to data from Adzuna.https://www.adzuna.co.uk/

Data from Adzuna showed a 2.9% increase in January 2018 when compared to last year. The average advertised salary in January stood at £33,369. The last time it was higher was in April 2016 (£33,462).

By region, average advertised salaries have increased annually in every area across the UK, the first time this has happened since Adzuna began monitoring on this basis since the summer of 2015.

Advertised salaries are up 4.6% in London, while Northern Ireland (14.1%) and Wales (6.3%) also showed annual growth.

Among job sectors, the biggest annual improvement in average advertised salary was recorded in the Admin jobs sector (29.3%) while the highest average salary was recorded in the Energy, Oil and Gas sector (£40,488).

The biggest decline was seen in the Construction sector where the advertised salary fell 5.9% from January 2017.

“Despite a number of advertised vacancies on offer, confidence and optimism about the future of the construction sector fell to its lowest level for almost five years in the last quarter of 2017,” Doug Monro, co-founder of Adzuna, said. “With Brexit negotiations ongoing and the countdown in full swing, we hope to see an emphasis on the construction sector and a strategy set in place that aims to maintain free movement of labour in order to support growth and prosperity of the industry.”

Meanwhile, total advertised vacancies increased slightly over the year (1.1%) in January. The number of jobseekers per vacancy stood at 0.42, which was down 12.5% when compared to the previous year.

“As salary improvements continue, we have faith that the growing momentum behind average salaries is here to stay,” Monro said. “A 21 month-high is not to be sniffed at, and while jobseekers now face increased competition for each position, the rewards are there once they land a role. Without wishing to tempt fate, it does look like the worst of the pay squeeze seems to have passed. Those currently in employment will hope that having continued to covet new staff with increased pay packages, focus soon switches to retention as we head into review season.”

Source: staffingindustry.com