Jobseekers over £1,000 worse off in real-terms

31 August 2016

According to the latest UK Job Market Report from Adzuna, rising inflation is starting to eat into wages and employers are holding off on hiring more expensive staff.

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.