Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Salaries in the UK Rise at Fastest Rate in Three Years Amid Christmas Hiring Surge

by November 25, 2024
November 25, 2024
Salaries in the UK Rise at Fastest Rate in Three Years Amid Christmas Hiring Surge

Christmas hiring is revitalising Britain’s job market, with annual salaries increasing at the fastest rate in three years, according to recent figures.

The average advertised salary reached £39,234 last month, marking a 6% rise compared to the same period last year and the highest increase since April 2021.

Despite the salary growth, competition for jobs is intensifying. Data from job search engine Adzuna shows that there were 861,000 vacancies in the UK’s labour market at the end of October, a slight 0.17% decrease from September. The number of job seekers per vacancy has risen to 2.08, the highest level since June 2021, indicating a tougher environment for those seeking employment.

Andrew Hunter, co-founder of Adzuna, noted that while 2024 began with challenges, the latter half of the year is showing signs of “recovery and resilience.” He stated, “This October, we saw the first positive six-month change in vacancy numbers. Driven by preparations for the busy Christmas shopping season, sectors like trade and construction and retail are ramping up hiring.”

The average duration of job postings on Adzuna has increased to 39.5 days, reflecting the heightened competition among job seekers.

UK businesses are facing the dual pressures of rising salary expectations and increased National Insurance contributions. Last month, Labour announced that the rate of employer National Insurance Contributions (NICs) would rise by 1.2 percentage points to 15% from April, and the earnings threshold at which employers start paying contributions will decrease from £9,100 to £5,000. This change is expected to particularly affect the retail industry, where supermarkets, pubs, and restaurant chains employ large numbers of lower-paid workers.

Christmas hiring has led to a significant uptick in advertised vacancies in certain sectors. The trade and construction industry saw new postings rise by 8.6% in October, according to Adzuna. Retail vacancies grew by 6%, while hospitality and catering, as well as travel, each experienced a 1% increase.

Conversely, some sectors faced declines. Sales job postings fell by 9.8% last month, although they remain 6.5% higher compared to six months ago. IT job adverts decreased by 9.6%, and vacancies in energy, oil, and gas dropped by 8.4%.

Surge in Green Job Opportunities

A separate report by PwC highlighted a surge in “green” job adverts—positions that contribute to environmentally friendly products, services, or processes. Overall, there has been a 9% increase in green job adverts over the past year. In London, such adverts grew by 30% to 58,500, while Scotland boasts the highest proportion of green job vacancies at 5.6%, equating to 28,700 positions.

Carl Sizer of PwC commented on the trend: “The surge in green job openings, while the wider job market contracts, underscores the increasing demand for green skills. While this demand is a great signal of intent and opportunity as the UK transitions to net zero, it’s also a sign that green skills are in short supply. Given the government’s new increased targets to deliver clean power by 2030, the skills challenge is only going to increase.”

Read more:
Salaries in the UK Rise at Fastest Rate in Three Years Amid Christmas Hiring Surge

0
FacebookTwitterGoogle +Pinterest
previous post
UK Hotel Pricing Tech Firm Lighthouse Becomes Latest Unicorn with $370 Million Investment
next post
Millions of UK tourists could face new visitor levies as councils seek to fund services

You may also like

UK’s leading entrepreneurs urge Liz Truss to back...

September 12, 2022

One in five SME owners planning to sell...

September 28, 2023

Tarci Are Delivering  Timely SMB Data to Finance...

December 8, 2022

Wealth Club members invest £1 million under EIS...

August 26, 2022

Australian startup Recharge finalises deal to take over...

February 27, 2023

Natwest upgrades AI chatbot to provide ‘human interaction’...

November 6, 2023

Nationwide rewards members with £100 payout after record...

May 30, 2025

Jeremy Clarkson told to close Diddly Squat farm...

October 7, 2022

Businesses eager to invest but cautious ahead of...

March 19, 2025

HMRC tax helpline chaos leads MP to seek...

January 10, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved