Andrew Hunter, co-founder of Adzuna, commented: “As the nationwide skills shortage begins to bite, employers are slowly starting to wind up wages. Salary growth has started to speed up over the last two months in particular. Between May and June, advertised salaries grew 1.7% - double the rate of growth witnessed between April and May (0.6%). Salaries are picking up pace and the gap in real wages is starting to close. And the recovery is filtering out to the fringes of the country too – with wages rising in ten out of twelve regions in June.
“But despite the positive sentiment in the employment market, there is still a way to go before salaries equal post-recession highs. Advertised salaries have fallen by £1,054 in real terms over the last year – and it will still take time to claw that missing money back. Even though salaries are starting to show signs of growth, it is unlikely that the Bank of England will raise interest rates until the emerging signals become a much more sustained trend.”