However, real wage growth is still falling, despite wages creeping up. Recruitment & Employment Confederation (REC) director of policy Tom Hadley comments:
“The number of people in employment continues to rise, showing business is performing well. However, the number of vacancies holds close to a record high, showing employers need even more workers to fill roles. There are plenty of jobs out there for candidates with high in-demand skills, which could be anyone from drivers to nurses to baristas. Employers have to compete with each other to attract those people and our data shows that one way they are making themselves more attractive is by offering higher starting pay.
“Although inflation remains above pay growth, the positive news is the gap looks to be closing. Employers should think about what else they can offer staff in terms of training and benefits too. In many sectors, employers are facing a staffing crisis. It’s a smart move to incentivise your current staff to stay with you at a time when they could be getting competitive pay offers elsewhere.”
