In May, the UK jobs market showed cautious signs of recovery, with annual vacancy growth and rising wages despite a slight monthly decline in job postings. The number of advertised vacancies fell by 0.51% to 858,465, but year-on-year growth was positive at +0.49%. Average advertised salaries reached £42,403, marking a 0.3% rise from April and a 9.38% increase from last year. However, entry-level opportunities plummeted by 32% since late 2022, primarily due to the impact of generative AI on hiring practices. Graduate job postings dropped 4.2%, hitting the lowest levels since July 2020. While sectors like logistics, hospitality, and education saw gains, healthcare and nursing vacancies fell by over 10%. Hiring times improved slightly, though competition increased with 2.02 jobseekers per vacancy. Despite these challenges, there is optimistic growth in essential roles, highlighting a complex but slowly recovering employment landscape in the UK.
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