"The UK jobs market showed further signs of cooling in September as advertised vacancies dropped -2.4% month-on-month to 826,205 jobs, echoing ONS data that highlights a 39th consecutive period of vacancy decline, according to the latest UK Job Market Report by job matching platform Adzuna. This means open roles are now -4.1% lower than a year ago, and alarmingly, September records the lowest vacancy level this year, suggesting employers are continuing to scale back hiring plans after a strong start to the year."
"While pay growth slows, pay packets continue to hold up. The average advertised salary rose slightly to £42,417 in September, a +0.12% month-on-month lift and +8.8% up year-on-year. While wage growth has eased from the rapid pace of late 2023, annual pay increases continue to outpace inflation (3.8%) and remain supported by April's National Minimum Wage rise. Annual public sector wage growth now outstrips the private sector, up +6.0% compared to +4.4%, respectively."
"This year's Christmas hiring remains resilient, with 20,284 advertised Christmas jobs so far, accounting for 2.54% of all UK jobs - similar to last year's level (2.57%), with Retail (+8.1%) and Logistics & Warehouse jobs (+3.0%) experiencing a clear uptick in hiring ahead of the festive season. The biggest employers offering Christmas jobs include Royal Mail (20,000), Amazon (15,000+ openings), Sainsbury's (17,000), and Marks & Spencer (4,671)."
Advertised vacancies fell 2.4% month-on-month to 826,205 in September and are 4.1% lower than a year ago, marking a 39th consecutive decline and the lowest level this year. Employers are scaling back hiring and many are pausing recruitment ahead of November's Budget. The average advertised salary edged up to £42,417 (+0.12% month-on-month; +8.8% year-on-year), with annual pay growth outpacing inflation and public sector wages (+6.0%) rising faster than private sector wages (+4.4%). Jobseekers now outnumber vacancies (2.06 per role) and unemployment is 4.8%. Christmas hiring remains steady, led by Retail and Logistics.
Read at London Business News | Londonlovesbusiness.com
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