Lower growth, higher inflation and weak wage growth have been linked to the uncertainty brought about as Brexit negotiations begin, and according to a report in the Guardian today, one of the sectors which have been hardest hit by the uncertainty has been the retail sector. According to the report, average salaries in the retail sector had fallen by 17.4% in 2016, compared to average advertised salaries which have fallen by 1.5% against the previous year.
The average advertised salary fell to £32,221 in November from £33,118 a year earlier according to Adzuna, the jobs search engine. They were down 1.5% compared with October’s £32,725. The biggest annual drop in advertised salaries was in the retail sector, where the average fell by 17.4% to £21,769. Adzuna said the sharp fall was partly down to a rise in the number of more low-paid temporary jobs .