Job vacancies exceed jobseekers for first time since recession

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.