Retail salaries rose 7.3% in the last year

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Retail salaries

Retail salaries have rushed ahead with a 7.3 per cent increase over the last year despite unemployment reaching a record low.

According to new research from job site Adzuna, average salaries in the retail sector have risen to £25,661 over the past 12 months.

This compares to an average salary decline of 1.7 per cent to £32,174 in the wider jobs market.

Meanwhile, job vacancies hit a nine-month low of 1.1 million last month, dropping by 10,000 from September.

However, there were reportedly still more job seekers than there were vacancies advertised.

“We’ve seen plenty of false starts in terms of salary improvements as incremental increases have been undone in following months,” Adzuna co-founder Doug Monro said.

“Nevertheless, those on the hunt for a new job will be hoping this improvement is for good and not just for Christmas.

“Despite a record-low unemployment rate, advertised vacancies have hit a nine-month low, showing we can’t be complacent about the jobs market and we still need a steady supply of new roles to supplement its strength.

“We’ve heard plenty in Budget week about the millions of jobs created by the current government, but this is no time to be resting on our laurels.”

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