[UK] Total vacancies under one million for first time in 2+ years

New research has revealed that total job vacancies in the UK have fallen under one million for the first time since May 2021, HR Magazine reports.

In research for its UK Job Market Report, job search engine Adzuna found that vacancies totalled 998,562 in November; an 8.5 per cent drop since this time last year.

It is reportedly the first time that the annual decline has worsened, month-on-month, during 2023. 

Falling vacancies suggest a stalling in the UK’s jobs market, however, advertised salaries have risen for the first time since June. The average advertised UK salary rose by 1.8 per cent to £37,221 in November compared to November 2022.

Small increases in remuneration were seen across nearly all sectors including domestic help and cleaning (+0.84 per cent), hospitality and catering (+0.9 per cent) and property (1.47 per cent).

Compared to November 2022, social work has reportedly experienced the biggest annual increase in advertised salaries, up by 10.88 per cent to £33,767.

London remains the only region in the UK seeing annual declines in average advertised salaries.

Andrew Hunter - co-founder of Adzuna - said 2023 was a turbulent year for the UK jobs market.

He said, “Competition is growing across sectors, making it harder for UK job hunters to find the right roles for them, particularly as sectors tighten their belts.

“Salaries appear to be rising again yet with one of the worst years on record for salary transparency, it's still difficult for potential recruits to understand compensation for the roles they’re applying for. As we head into 2024, finding a job will likely stay tough for the first part of the year.”

Source: HR Magazine

(Link and quotes via original reporting)

New research has revealed that total job vacancies in the UK have fallen under one million for the first time since May 2021, HR Magazine reports.

In research for its UK Job Market Report, job search engine Adzuna found that vacancies totalled 998,562 in November; an 8.5 per cent drop since this time last year.

It is reportedly the first time that the annual decline has worsened, month-on-month, during 2023. 

Falling vacancies suggest a stalling in the UK’s jobs market, however, advertised salaries have risen for the first time since June. The average advertised UK salary rose by 1.8 per cent to £37,221 in November compared to November 2022.

Small increases in remuneration were seen across nearly all sectors including domestic help and cleaning (+0.84 per cent), hospitality and catering (+0.9 per cent) and property (1.47 per cent).

Compared to November 2022, social work has reportedly experienced the biggest annual increase in advertised salaries, up by 10.88 per cent to £33,767.

London remains the only region in the UK seeing annual declines in average advertised salaries.

Andrew Hunter - co-founder of Adzuna - said 2023 was a turbulent year for the UK jobs market.

He said, “Competition is growing across sectors, making it harder for UK job hunters to find the right roles for them, particularly as sectors tighten their belts.

“Salaries appear to be rising again yet with one of the worst years on record for salary transparency, it's still difficult for potential recruits to understand compensation for the roles they’re applying for. As we head into 2024, finding a job will likely stay tough for the first part of the year.”

Source: HR Magazine

(Link and quotes via original reporting)