Research indicates that the amount of available job openings has dropped below 1 million, which is the first time this has occurred in over two years.
The lowest number since May 2021 was reported by the jobs site Adzuna, with a decrease of 2.7% to 998,562 between October and November.
According to the report, a decrease in job openings indicates a slowdown in the job market. Adzuna’s research also revealed that advertised salaries increased for the first time since June, rising by 0.74% to £37,221.
According to Adzuna, social work saw the largest increase in advertised salaries, with a growth of over 10% to reach £33,767 compared to the previous year. This was followed by jobs in the energy, oil, and gas industries, which saw an 8.95% increase to £44,210, and the manufacturing sector, which had an 8.11% increase to £29,160. However, there was a decline in advertised salaries for positions in human resources and recruitment.
Andrew Hunter, one of the founders of Adzuna, mentioned that the job market in the UK has faced a tumultuous year. He noted that despite reaching a peak in terms of job availability and advertised salaries in 2021, the number of advertised jobs has now dropped to less than 1 million, which is the lowest it has been in over two and a half years.
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As industries become more competitive, it is becoming increasingly challenging for job seekers in the UK to find suitable positions. This is especially true as companies in various sectors are cutting back.
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“Despite a recent increase in salaries, the lack of transparency in salary information has made it challenging for job seekers to determine the compensation for the positions they are interested in. As we approach 2024, job hunting may continue to be challenging in the beginning of the year.”
Source: theguardian.com
