Andrew Hunter, co-founder of Adzuna, commented: “The labour market is truly alive and kicking again. Far more people are in work than a year ago and competition for jobs across the UK has fallen by a third. And our live job market data shows that new vacancies are beginning to multiply, surpassing recent records as we move into spring.
“Following the revision of forward guidance, the new buzz-word on the jobs market is ‘wages’. Or to be specific, real wages. These have tracked well below inflation since the financial crisis, slowly eroding household finances and contributing to diminished consumer spending power. This has hit households hard; over the course of last year, salaries fell £2,136 in real terms. Now that inflation has fallen below target for the first time since 2009, real wages finally have an opportunity to catch up.”
