The UK job market in May exhibited cautious growth, with vacancies dipping slightly month-on-month but showing a 0.49% increase year-on-year, marking three months of consistent annual growth. Average advertised salaries hit a record high of £42,403, fueled by a recent National Minimum Wage increase and strong annual pay growth, particularly in the private sector. However, the healthcare sector faced challenges with a 10.21% decrease in job postings. As employers adapt to a tight talent pool, the average time to fill vacancies decreased slightly to 35.8 days, while salary transparency saw a downturn to 43.5%.
The UK job market showed cautious growth in May, despite month-on-month vacancies declining. Year-on-year growth suggests a potential recovery from pandemic lows.
The average advertised salaries reached a record high of £42,403, demonstrating the strongest annual pay growth since mid-2022 amid a recovering job market.
Healthcare and Nursing saw a significant downturn in job postings, experiencing a -10.21% decline month-on-month, signaling potential instability in this sector.
Salary transparency saw a decline to 43.5%, indicating that many employers are pulling back on pay visibility after earlier improvements this year.
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