For many of us, there has been a level of frustration over the discord between pay and inflation since the UK went into recession back in 2009. Essentially, the cost of living has continued to rise at a rate which has not been matched with increases in pay. However recent data has shown that there may be a light at the end of this tunnel, as advertised salaries grew at a faster rate than inflation in August (Adzuna).
Salaries offered on new jobs in August 2014 were 1.9% higher than those offered in August 2013, while the inflation rate during that time was at 1.5%. These advertised salaries increased uniformly across the UK, so all regions should reap the benefit. Good news all around!
This data also found that there was a 30% year on year increase in the number of advertised job vacancies. What is more, competition for these vacancies has fallen, indicating that unemployment is also decreasing, with the future possibility of there being more available jobs than jobseekers. This shift has definitely been noticed here at Solutions 4 Recruitment, where we have seen that it is undoubtedly a jobseekers market at the moment, with a plethora of candidates with relevant skills and experience available for almost every job role that we have. From the employer’s perspective, this only serves to emphasise the importance of making timely decisions, as candidates are likely to have several interviews on the go, which can result in multiple job offers. So if you are interviewing your ideal candidate, then be sure to get your best offer in quick!
Are you looking for a new marketing, design, PR or business development role? Take a look at the jobs we’re currently recruiting for. Or if you’ve got a vacancy that you would like our help to find the best possible person for, get in touch.