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Average salaries growing - report
6:01am Tuesday 29th July 2014 in Business
WORKERS’ average salary growth doubled in June, suggesting the labour market recovery is picking up speed, a survey has said.
A UK job market report from Adzuna says advertised salaries increased to £32,933 last month, growing 1.7 per cent between May and June.
The rise was more than double the rate of growth witnessed between April and May, which stood at 0.6 per cent, and was the third consecutive month of rising advertised salaries.
The survey also revealed the amount of available vacancies is also increasing, with the 839,950 advertised positions in June more than 20 per cent higher than a year ago.
On a monthly basis, vacancies lifted 2.6 per cent, helping push the unemployment rate down to 6.5 per cent.
Andrew Hunter, co-founder of Adzuna, said: “Greater economic certainty is finally filtering through into a pick-up in salaries.
“Employers are boosting wages as top talent becomes harder to source, hoping that by supplementing salaries they will attract the best staff.
“At the same time, the pace of job creation is pulling ahead of the number of workers looking to change jobs.
“Competition for jobs is falling as a result.
“The post-recession era of tough rivalry between job hunters is drawing to a close, as the power switches into the hands of those looking to move, rather than those looking to hire.”
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