Why people looking for jobs are now being offered less money | Personal Finance | Finance

Andrew Hunter, co-founder of Adzuna, said: “Hopes that a return to growth would result in greater confidence in hiring were not reflected in job vacancies in May, which remained essentially flat. However, there were slight increases in roles in Travel, Teaching and Manufacturing – areas where there have been some entrenched staff shortages.

“In the meantime, salaries have fallen slightly month-on-month pointing to a slightly less tight labour market and perhaps indicating that companies are beginning to post more junior and entry-level roles. The job market has been met with resistance in the past few months but the upcoming general election may have the potential to salvage the situation.

“Any outcome is likely to move the needle on the sluggish job market, with both the Conservative and Labour parties pledging to create more jobs. Sectors highlighted in their manifestos, such as Healthcare & Nursing, Energy, Oil & Gas, and Manufacturing, all experienced a vacancy drop of more than 20% year-on-year as of May 2024.”

Source link