Job adverts offer lowest salaries in three years as vacancies rising - study

Updated: 

Salaries in job adverts are at their lowest for over three years as the number of vacancies continues to rise, new research shows.

The average advertised wage is £32,100, the lowest since April 2014, after a fall of 1.5% over the past year, said jobs site Adzuna.

Average advertised salaries have fallen by 3.3% in South East England since a year ago, although have increased by 2.3% in Northern Ireland, the study found.

Graduate salaries are up by 3.6% at an average of almost £24,500.

Adzuna said the "strain" on incomes is expected to get worse as the cost of living is rising faster than wage growth.

The number of job vacancies increased by over 6% to 1.2 million compared to last year, and employment could benefit from a Brexit boost in productivity, said Adzuna.

Vacancies for jobs in the hospitality industry increased by 20% as more people holidayed in the UK.

Doug Monro, of Adzuna, said: "The forecast for the jobs market seems to be continued dry spells of poor wage growth that will cause a drought in the labour market for the foreseeable future.

"However, sunny spells could lay ahead if certain Brexit predictions come to fruition and the national output is boosted. Adzuna data shows there are a growing number of advertised vacancies available for skilled workers and jobseekers should make the most of the opportunity.

"As the cost of living is growing at a rate faster than wage growth, a sensible financial attitude is key. With advertised salaries so stagnant, those already in employment may be best served remaining in their existing roles and seeing if they can improve their wage that way."