Salaries on the in­crease across the UK, study finds

Sunderland Echo - - Jobs -

Got money on the mind when it comes to find­ing em­ploy­ment? You’re not alone, be­cause a new study has re­vealed that more than half (58 per cent) of UK pro­fes­sion­als say that a good salary is their top ca­reer pri­or­ity.

It was a strong start to the year for both em­ploy­ers and pro­fes­sion­als, and it’s clear that busi­nesses were work­ing hard last month to con­tinue at­tract­ing tal­ented can­di­dates to their roles.

In fact, ac­cord­ing to the lat­est sta­tis­tics from in­de­pen­dent job site CV-Li­brary, ad­ver­tised salaries in­creased by 1.3 per cent year-on-year.

The data, which ex­plored fluc­tu­a­tions in pay, jobs and ap­pli­ca­tions through­out Fe­bru­ary, re­veals that the na­tion saw a smaller in­crease in ad­ver­tised salaries of just 0.5 per cent, when com­pared with data from Jan­uary 2018.

How­ever, some of the UK’s key in­dus­tries wit­nessed above av­er­age salary growth last month, com­pared to data from Jan­uary 2018. The top in­dus­tries for pay hikes in­clude: 1. Hospi­tal­ity – 6.5%; 2. Mar­ket­ing – 4.6%; 3. En­gi­neer­ing – 3.6%; 4. Ac­count­ing – 2.6%; 5. Man­u­fac­tur­ing – 1.3%; 6. IT – 1.3%; 7. Le­gal – 1.2%; 8. Re­cruit­ment – 1.1%; 9. Con­struc­tion – 1.1%; 10. Cater­ing – 0.5%.

“It’s great to see that salaries are on the rise across the UK, es­pe­cially given that pay de­clined in Jan­uary,” said Lee Big­gins of CV-Li­brary.

“It’s par­tic­u­larly pos­i­tive to see this growth in key in­dus­tries and cities across the na­tion, es­pe­cially in sec­tors like hospi­tal­ity, en­gi­neer­ing and man­u­fac­tur­ing which con­tinue to strug­gle with im­pend­ing skills short­ages.”

The data re­veals that job va­can­cies were also up last month, ris­ing by 7.7 per cent year-on-year. That said, ad­ver­tised va­can­cies were down by 13.3 per cent month-on­month, as were ap­pli­ca­tions, which saw a de­cline of 16.1 per cent when com­pared with Jan­uary 2018.

Big­gins con­cludes: “It’s pos­i­tive to see that job va­can­cies were up year-on-year, as busi­nesses re­mained con­fi­dent in Fe­bru­ary. De­spite both va­can­cies and ap­pli­ca­tions de­clin­ing month-on-month, this is not cause for con­cern.

“We typ­i­cally see jobs and ap­pli­ca­tions soar in Jan­uary with both em­ploy­ers and job hunters start­ing the year on a high.”

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