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Advertised salaries have decreased rapidly, with north-east England seeing the biggest drops.
The average job in the north-east now pays £29,093, according to the latest UK Job Market Report from Adzuna UK. This represents a drop of 5.3 per cent year-on-year.
This is compared to a decrease of 3.5 per cent across the UK.
Doug Monro, co-founder of Adzuna, says: “It’s been a difficult year for the north-east’s job market. For an area dependent on industry, tough times in the manufacturing sector have had a knock-on effect. And other sector areas haven’t picked up the slack in order to cover job losses.”
The development of a northern powerhouse in the north-west is in part responsible for such a significant drop in salaries in the north-east, with many professionals being enticed by the extensive initiatives aimed at improving employment and skills in the area.
“The area remains amongst the worst in the UK for unemployment and there aren’t many signs of this changing,” Mr Munro stated.
“Many young people in the area are undoubtedly moving south in order to find better opportunities and this is depriving the area of some of its best talent and skills.”
Scotland and London follow closely behind the north-east, with average advertised salaries dropping by an average of 5.2 per cent to stand at £31,283 and £39,998 respectively.
Industries that have been hit particularly hard by salary decreases include medicine, manufacturing and teaching, while financial services workers have generally enjoyed increased salary packages.