Why people looking for jobs are now being offered less money

Advertised salaries have fallen slightly for the first time since last October as the jobs market remains flat, according to new research. Jobs site Adzuna said vacancies were increasing for teachers but falling for nurses and healthcare staff.

Average pay on offer fell by 0.1% last month to £38,765, said the report. Adzuna said slightly weaker salaries could help relieve tightness in the labour market, but it may also suggest increasing vacancies for entry or junior-level roles with lower pay.

Cambridge remains the UK’s top place to find a job, with only 0.34 jobseekers per vacancy, followed by Guildford (0.49) and Exeter (0.63). Bradford remains the hardest city to find a job, with 7.94 jobseekers per vacancy, said the report.

Andrew Hunter, co-founder of Adzuna, said: “Hopes that a return to growth would result in greater confidence in hiring were not reflected in job vacancies in May, which remained essentially flat. However, there were slight increases in roles in Travel, Teaching and Manufacturing – areas where there have been some entrenched staff shortages.

“In the meantime, salaries have fallen slightly month-on-month pointing to a slightly less tight labour market and perhaps indicating that companies are beginning to post more junior and entry-level roles. The job market has been met with resistance in the past few months but the upcoming general election may have the potential to salvage the situation.

“Any outcome is likely to move the needle on the sluggish job market, with both the Conservative and Labour parties pledging to create more jobs. Sectors highlighted in their manifestos, such as Healthcare & Nursing, Energy, Oil & Gas, and Manufacturing, all experienced a vacancy drop of more than 20% year-on-year as of May 2024.”