Member Article

North West sees 8.78% lift as annual salary increases hit post-recession high

Average salaries in the North West are now £29k, showing a rise of 8.78% compared to the same period last year.

The figures are from a new report by Adzuna Jobs UK and they also show that advertised vacancies exceed the number of jobseekers for the second consecutive month.

These salary increases come as the Consumer Prices Index (CPI) grew by just 1% in the year to November 2014, down from 1.3% in October.

This means that average annual salary increases continue to outpace CPI inflation as a trend towards real wage growth continues for the fourth month in a row.

Customer Service jobs see the largest twelve-month increase in average advertised salary (16.5%), followed by Manufacturing (14.5%) and Trade & Construction Jobs (10.4%)

Only year-on-year advertised salary drops are in Hospitality & Catering (-2.11%) and Energy Oil & Gas (-0.55%)

Every region of the UK sees advertised salaries increase across the year

Co-founder of Adzuna, Andrew Hunter, said: “The job market has seen significant revival over the past year.

“The most recent figures provide a solid base for optimism as we head into 2015. But it’s important not to rest on our laurels.

“The fact that the number of advertised job vacancies has continued to blossom over and above the number of jobseekers in November is definitely a sign that the labour market has cultivated momentum over the course of 2014, but this peak in advertised vacancies at the close of the year may owe as much to seasonal work as it does to the resurgent core of the jobs market.

“Some uptick in advertised vacancies during the lead-up to the festive period was expected. However, seasonal labour does not account for year-on-year record annual growth in average advertised salaries.

“More vacancies and higher wages have come at the same time as the cost of living crisis starts to ease, leaving more people with more money in the New Year – injecting a feel-good factor into a traditionally glum time of year.”

This was posted in Bdaily's Members' News section by Sophia Taha .