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Employment is on the rise but salaries are lowered

2012 has been a tough year in terms of employment but heading into the New Year we are seeing a turnaround that is bitter sweet. Online job board Reed said there is “10% more employment opportunities in the UK than a year ago but the average salary for new jobs tumbles 1%.”

The job market maybe recovering but Mark Rhodes, Marketing Director at said “UK employers are continuing to hire new staff but are offering a lower salary.” Companies are worried about margins and profitability and so they are cutting costs across the board. This is affecting new staff because they are being offered lower salaries to what previous workers have received. Forecasting for the year ahead could see wage growth limited to just over 2% in 2013, while inflation could reach 3% early this year.

Read Reeds full article here The Guardian