The number of total job vacancies in the UK increased by 0.9% in February when compared to the same period last year, according to the latest UK Job Market Report from Adzuna.

On a monthly basis, UK job vacancies are also on the rise, increasing by 3.5% in February when compared to January. Advertised wages also showed an increase with the figures from February showing an improvement of 0.3% from the previous month.

Despite this wage increasing from £32,420 to £32,520 in February, wage inflation is not running at the same speed as vacancy growth. However, the National Minimum Wage is set to increase this year, in line with Phillip Hammond’s Autumn Statement.

The report shows that HR & recruitment Jobs are currently the most well-performing sector in terms of wage growth, representing an annual increase of 4.6% to stand at £ 32,042.

“While UK inflation continued to rise in February as food and fuel prices are on the up, salaries are experiencing a relative lull,” the report from Adzuna said. “Despite the employment rate remaining at its highest level, it is no surprise that wage growth is improving at a rate much slower than anticipated. Following recent reports, the value of the pound rose to a three-week high against the dollar suggesting a positive increase may be on the horizon.”

Doug Monro, co-founder of Adzuna, commented, “It is promising to see wage growth slowly starting to pick up following the recent dry spell. Although wage growth is currently not progressing at an optimal level, jobseekers and employees should not be discouraged. With Article 50 about to be triggered, Brexit plans are starting to take shape and with the jobs market leading decision making, it is likely that the UK labour market will not be left short changed.”

“Despite this, given the restricted growth potential of advertised salaries at present, employees may benefit most from staying put in their current roles and waiting for wages to pick up. For jobseekers, it is not all doom and gloom as the expanding choice of vacancies on offer suggests they are not tied down to traditional full-time employment role,” Monro said. “Companies offering flexible contracts as well as the gig economy provide a safety net for those looking to evolve rather than be swept away in the midst of the uncertain political climate.”

“On a positive note, a clear path has been paved for those looking for a new lease on life and change in career path, as competition per vacancy has decreased, suggesting there is more ways than one to rise the ranks for those of all ages,” Monro said.