Starting salaries in July showed record increases as candidate availability continued to decline and unemployment remained low.
The UK Report on Jobs, compiled by Recruitment and Employment Confederation and KPMG, revealed in July that the appointment of both full-time and temporary staff increased at record rates. As employers struggled to find candidates, REC said salary inflation had risen the most in the 24 years since collecting this data. Temporary billing also increased at the fastest rate since June 1998. REC has factored in a shortage of candidates, including pandemic employment security concerns, Brexit’s shortage of European workers, and low unemployment. Full-time staff appointments expanded most rapidly in London, and temporary staff recruitment increased significantly in London and Midland. Growth in southern and northern England slowed slightly, according to the report, but was still “strong.” Growth was strongest in the private sector, with demand for full-time staff increasing at a slightly faster pace than temporary. In the public sector, short-term vacancies increased more rapidly. IT and computing were the sectors with the highest demand for full-time staff, while blue-collar and hospitality employers sought the most extraordinary workers. “It was a good time to look for a new job,” said Kate Shoesmith, REC’s Deputy Chief Executive Officer. “Employers are desperate to find suitable candidates for many of the jobs offered, which is reflected in the start of the highest salary since the 1997 survey began.” More people will be on the lookout for new opportunities.
Salary rises as candidate shortage worsens
Source link Salary rises as candidate shortage worsens