According to new research from Resolution Foundation, the living standards analysts, pay-growth for workers in this age bracket who changed jobs between 2007-2014 was 2.7 times more than for those that didn’t.
They also indicated that the overall pay of this age bracket would be 3% higher if job mobility hadn’t slowed since the recession.
The findings were backed up by data from job search engine AdView, who also argued that younger workers who remain in the same jobs for years often lose out on better pay.
AdView’s Kevin Brady told us, “In prosperous economies job switches should be easy, which, as the data suggests, would make pay increases more common.
“Despite the financial gains to be made, the number of young people switching jobs has fallen by a third since its peak in 2000.
“We have over 100,000 active subscribers to our Jobs By Email system. Of this figure 62% are between the ages of 18-34, many of whom are already in work. This suggests to me that a significant number of younger workers are proactively searching for jobs in the UK.
“However, the findings from Resolution Foundation clearly show that even more that more needs to be done to help younger workers climb the career ladder. Needless to say, there are no easy answers to this.
What should young people do then if they’re if they’re stuck in a low-pay job with no promotion in sight?
Mr Brady continued: “If you’re a worker under 30 and stuck in a stagnant position, there’s still reason to be optimistic. The key is to be proactive in your job search. For example, signing up to one or two solid job sites job search sites can bring a range of relevant jobs in your area straight to your inbox each week.
“The job search sites - also known as aggregators - are especially useful for the general jobseeker because they’ve got 100,000s of jobs all in one place.
“From that point all it takes is a quick glance at your phone or computer to see if any jobs have come up that offer a greater salary or chance for career progression.
“Even if you’re relatively happy in your job it’s no effort at all to take a look at what else is out there every now and again.”
About AdView: AdView is a UK-based job search site. It adds 100,000+ new jobs weekly, covering every single job sector.
