Andrew Hunter, co-founder of Adzuna comments on ONS UK Labour Market, July 2014:
The labour market is abuzz with fresh activity as switching jobs becomes an increasingly attractive prospect. More new roles are popping up as businesses recruit for expanding teams. Advertised salaries are showing signs of gradual growth. And our live data shows that competition for roles has fallen to a six year low. Workers can afford to be much pickier about the roles they take on, while employers are slowly increasing salaries to attract the best staff. The unemployment rate has continued to fall, reaching 6.5% for March to May, the lowest since October to December 2008.”
“But youth unemployment continues to snap at the heels of the labour market recovery. Entry level salaries took a huge hit during the recession, and they still continue to dwindle. The average graduate salary (£24,105) is 3.8% lower than 12 months ago. Faced with higher tuition fees, high rents, and slipping salaries, the jobs market is still a real challenge for new graduates.
“There are still 30 jobseekers fighting it out for every entry level role, as several years’ worth of entry level talent compete for the same jobs. This figure has fallen from 50 a year ago, but still highlights the need to continue encouraging employers to take on more entry level staff – whether through internships, apprenticeships, or permanent placements.”
