Jobseekers over £1,000 worse off in real-terms
31 August 2016
Key findings from the report:
- Advertised salaries fall to £32,688 in July, down 2.4% annually, from £33,505 a year ago as employers delay investment
- Wages down 3.0% p.a. in real terms, equalling an average earnings loss of £1,011 to workers’ pay packets, as inflation starts creeping upwards
- Salary split emerges as advertised salaries fall in half of UK cities with the Midlands bearing the brunt as Nottingham, Leicester and Birmingham all see monthly salary falls
- Graduate salaries slip to £23,609, dropping 4.3% year-on-year, as new graduates face a harder start to their career
- New university starters looking to boost their income with a part-time job could suffer, as part-time vacancies fall 58% year-on-year to 11,036 in July
- Overall vacancies growing as number of advertised positions increases to 1,154,993, up 2.4% year-on-year from 1,128,112 in July 2015
- Job competition falls to 0.49 in July (two jobseekers to each vacancy), with double the number of advertised posts to jobseekers.
Read the full press release for further details.