LONDON, June 22 (Reuters) – Starting salaries advertised in Britain hit the highest level in nearly two years and vacancies rose for the fourth month in a row, according to a survey published on Thursday that may add to worries at the Bank of England about inflation pressures.
Job search website Adzuna said advertised salaries were the highest since April 2021 and had increased in every month since December last year, reaching 37,750 pounds ($47,968.93) in May.
That represented a rise of 0.24% from April and around 3.3% in year-on-year terms.
Andrew Hunter, co-founder at Adzuna, said the figures signified resilience in the jobs market.
The BoE, which is widely expected to increase interest rates on Thursday and again in the coming months to combat stubborn consumer price inflation, is monitoring inflation pressure in the jobs market closely.
Official labour market figures last week showed stronger-than-expected wage growth in April.
Trends in Adzuna’s advertised salaries differ from those collected by Britain’s Office for National Statistics for average earnings across the workforce as a whole.
Adzuna said overall online job adverts climbed 0.48% to about 1.051 million adverts last month, nearly a fifth lower compared to the same period last year and below the previous peak of about 1.065 million in December last year.
The monthly survey also showed competition for jobs fell slightly in monthly terms but jobs were being filled faster. It also highlighted the tough prospects for graduates joining the labour market.
($1 = 0.7870 pounds)
Reporting by Suban Abdulla
Editing by William Schomberg
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