Advertised salaries fall to a 16-month low despite jobs optimism
The average advertised salary across the UK has fallen to a sixteen month low, plummeting by 4.1% in the past twelve months, to just £32,323 in December 2013. This equals a drop in wages of £2,136 in real terms, and marks the third consecutive month in which advertised salaries have fallen, according to Adzuna data.
The salary slide has been felt throughout the country, with annual advertised pay declining in every region aside from Wales during the twelve months to December. The East of England and the West Midlands have borne the brunt of the fall, with the average salary dropping 8.4% and 6.9% respectively in these regions. But Wales has bucked the trend. Salaries in Wales have risen 4.1% over the twelve months to December, reaching an average of £28,121. Salaries in Wales are now at their highest point since August 2012.
Where are all the jobs?
When it comes to the UK jobs landscape, we still very much see a strong North-South divide. Nine of the top ten cities to find a job were in the South of the UK, and seven of the worst ten cities to find a job are still based in the North. Cambridge was the best city in the UK to find a job in December, with just 0.22 jobseekers per vacancy. It was almost 100 times more difficult to get a job in Salford, the second most difficult city in the UK to find a job (with 20.54 jobseekers per vacancy), compared to Cambridge, the easiest place in the UK to find a job (with 0.22 jobseekers per vacancy).
That said, there are, some good signs of improvements for some corners of the North. Wolverhampton may be the seventh worst city in the UK to find a job, but competition for vacancies in the city is falling rapidly, and has in fact already dropped 38% over the last six months, bolstered by a strong service sector, and growing manufacturing and engineering industries.
Likewise, in Sunderland – the fourth worst city to bag a job in the UK, and home to the UK’s vehicle production industry – competition for jobs has halved since July 2013.
Check out recent Job Market Reports here (December 2013, November 2013) and don’t forget to follow us on Twitter and Facebook to keep up to date with more exciting news. If you need anything data-wise contact us here, where our resident army of data nerds are always happy to help with any query.