The number of advertised job vacancies has overtaken the number of jobseekers for the first time since the recession, and average salaries have increased at a greater rate than inflation, according to the latest UK job market report from Adzuna, released today [25 November].
In October, there were 887,771 jobseekers compared to 936,596 advertised vacancies. That equates to a ratio of 0.95 jobseekers per vacancy, down from 1.02 in September. Year-on-year competition for jobs has fallen from a ratio of 1.69.
Total advertised vacancies increased 25.1% year-on-year in October, up 3.4% from September.
Advertised salaries also increased in October, up 4.3% year-on-year to an average of £34,670, outstripping the Consumer Price Index inflation rate of 1.3%.
Average advertised graduate salaries saw the largest increase of 15.7% year-on-year to £26,438. Customer service and teaching jobs saw the next biggest increase, both 11.5% to £21,526 and £26,642 respectively.
However, salaries in the energy, oil & gas sector were down 3.1% year-on-year.
All regions of the UK experienced year-on-year wage increases except Scotland, which experienced a 0.9% decrease to an average of £33,011.
The biggest improver by region was Wales where the average advertised salary increased 12.8% to £30,376.
Adzuna co-founder Andrew Hunter said the fall in Scottish salaries was due to a downturn in the energy, oil & gas sector in October and the after-effects of the referendum vote.
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