We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Secured Loans > Salaries rising at last due to skills shortage, says report

Salaries rising at last due to skills shortage, says report

13th April 2015 | Published by Evo Money

Wages are being driven up by a lack of skilled workers in the UK today, according to a new report.

Almost a third of recruiting agencies have said that starting salaries are increasing, says KPMG and the Recruitment and Employment Confederation (REC).

Wage growth is strongest in the Midlands and the south of England, where the availability of suitable candidates for jobs continues to fall.
Skills shortages are a particular problem in nursing, health care and teaching.

The chief executive of REC, Kevin Green, said that almost one in three recruiters is reporting an increase in starting salaries compared with last month. There has also been a rise in the number of people successfully finding work via a recruiting agency. In the north west of England, 45 per cent of recruiting agencies surveyed by KPMG and REC said that there had been a sharp increase in the number of permanent staff appointments made.

People are feeling more confident about finding work and also about changing jobs, as they seek higher salaries. Higher salaries are being offered because of a widespread shortage of skills. Kevin Green warned that businesses will have to work hard to retain their skilled staff in the future.

Shortages are being most keenly felt in the public sector, with teachers, nurses and other health care workers in particularly short supply, for both temporary and permanent positions.

Mr Green added that politicians are debating immigration and education in the run up to the election and need to be aware that the current skills shortage is likely to have a significant impact upon the UK’s economic growth.

Bernard Brown of KPMG said that demand for talent continues to outstrip the number of candidates seeking employment and that this skills shortage is likely to slow down UK economic growth if it is allowed to continue at its current rate.

Category: Money
This post was written by Evo Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
© 2024 Evolution Money | Cookies | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution