Brexit britain: salaries increase as economic output rises

Brexit britain: salaries increase as economic output rises


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Advertised salaries have shown a slight increase in the past year and now average more than £32,500, a report shows. Jobs site Adzuna's study showed the average salary for vacancies


advertised online in November was up by 1.2 percent compared to that of the year before. This being the first annual increase since June 2015.  The biggest advertised salaries were in London


at more than £42,700, while the lowest was in Scotland at just under £30,000, said the report. The number of vacancies fell slightly to 1.1 million over the year, leaving areas such as


Cambridge, Warrington, Southampton, Guildford, Swindon and Oxford with more jobs than candidates, said Adzuna. Advertised salaries for graduates fell by 12 per cent from 2016, averaging


£21,800. Doug Monro, co-founder of Adzuna, said: "The first increase in annual advertised salaries we've seen since the summer of 2015 is a timely shot in the arm for job-hunters


and gives those already in work the encouragement that their pay packages may soon follow suit. "If they don't, with more than a million vacancies currently available, then


disgruntled employees may soon vote with their feet and look elsewhere. "Northern Ireland continues to set the pace on a regional basis with annual salary increases of 8.8 per cent, but


the recovery in London is just as noteworthy given it's been through some tough times this year." It comes as the Confederation of British Industry (CBI) reported an increase in


economic output of 19 per cent from October to December.  The growth is a boost for the Bank of England (BoE) showing the UK can handle last month’s interest rate increase. This was the


first rise in a decade, the bank increased rates from 0.25 per cent to 0.5 per cent.  Pay growth could even lead to yet another interest rate rise next year as higher wages may lead to firms


increasing the cost of goods and services. The CBI survey was based on 642 businesses based in distribution, manufacturing and service sectors.