Average annual salaries down by 2.1%

The average advertised annual salary in June 2013 stood at £33,414, 2.1% lower than in June 2012, according to research by Adzuna.co.uk.

Its UK Job market report, which collected online job vacancies and analysed data in real time, found that this equates to a drop of more than £700 over the year. Factoring in inflation, wages are down by £1,670 in real terms year on year.

The research also found that the south of England continues to be the region with the highest average salaries. In London, the average advertised annual salary is 25% higher than the UK average at £41,795. Salaries in the south east are the second highest, on average, at £31,136 in June 2013.

London is the only region in which salaries have increased, rising by 1.2% over the last six months. This is in contrast to Wales where the average salary has fallen by 8.5% since December 2012.

The research also found:

• PR, advertising and marketing was the worst performing sector in terms of wage growth, with advertised salaries 6.4% lower in June 2013 than in December 2012.
• The average salary for jobs advertised in the administration sector has risen 6.6% since December 2012.
• The energy, oil and gas industry was the second biggest improver by salary with a rise of 3.7% since December 2012.
• The average salary in the IT sector reached a record high in June 2013, at £42,725 per annum.

Flora Lowther, head of research at Adzuna, said:“In Wales, the average salary on offer has fallen by £2,300 per annum over the same period, although, with inflation running at 2.9%, the real-term fall in wages is well above this figure.

“Lower competition may attract further jobseekers to the region, but the drop in wages could well send them running to other parts of the UK where there are more jobs on offer, and where wage growth is far more positive.”