Data from Adzuna reveals that the last time the average was this high was in April 2016, when they reached £33,462.
The capital has seen a 4.6% rise, with Northern Ireland (14.1%) and Wales (6.3%) other notable performers on an annual basis. The researchers suggest this indicates the worst of the pay squeeze has passed.
Despite this, the number of available opportunities has failed to keep pace. Total advertised vacancies has continued to flatline, falling 10.6% over the last six months.
There are currently 1,100,710 new openings available, only marginally (0.1%) higher than December’s level.
Doug Monro, co-Founder of Adzuna, explains: “As salary improvements continue, we have faith that the growing momentum behind average salaries is here to stay. A 21 month-high is not to be sniffed at, and while jobseekers now face increased competition for each position, the rewards are there once they land a role.
Without wishing to tempt fate, it does look like the worst of the pay squeeze seems to have passed. Those currently in employment will hope that having continued to covet new staff with increased pay packages, focus soon switches to retention as we head into review season.”
Retail salaries did particularly well, despite the high-profile collapse of brands such as Maplin and Toys R Us. The typical advertised wages in this industry increased by 19% from January 2017, now standing at £27,398.
“While the footfall and sales figures might not be what they once were, employers are obviously feeling flush enough to offer salaries that rival comparable sectors,” said Monro. “Despite the pay squeeze, rising costs of living and inflationary pressures, UK consumers still love a bargain, and these can still be found on the high street as it fights back against online offerings.”
Source: Recruitment Grapevine