POLITICS

UK Pay Packets Stagnant Despite Growing Job Vacancies - Report

02/04/2014 07:32 BST | Updated 02/04/2014 07:59 BST
Peter Byrne/PA Archive
A person looks at job vacancies in a recruitment shop in Liverpool City Centre, as it was announced today that youth unemployment had reached a record high of over a million.

Job vacancies are growing but salaries have not increased for a year despite renewed confidence in the economy, according to a new report.

Employment firm reed.co.uk said pay had remained at the same level as the start of 2013 even though the number of new jobs was up by almost a third.

Most jobs are being created in tourism, leisure, estate agency and construction, said the report.

James Reed, chairman of reed.co.uk, said: "We've endured a prolonged period of salary stagnation.

"But with more jobs being created than at any time in the last five years, for many individuals having a look at the market and considering a change of position will be the most effective route to a pay rise.

"It will be key growth sectors requiring specialist skills, such as technology, engineering and science, which offer the greatest opportunity for individuals to increase their salaries."