According to the Reed Salary Index, pay levels for new jobs have begun to increase

Wages have risen by one point to give an overall index reading of 99. Accountancy, hospitality and catering, and sales industries have seen the largest hikes in pay.

Conversely, the findings have also revealed that job demand has fallen in the month of July, compared to the previous month.

Martin Warnes, Managing Director of, said: “Economic confidence at the start of the third quarter appears to have flattened out. There is residual fragility in the economy which has dampened demand for new staff and continues to restrain salaries.”