The jobs giving inflation-busting pay rises - but cost of living will likely erode wage gains
But in a few jobs, wages are keeping up with the cost of living.
This in part reflects increases in the national minimum wage, which went up 6.6% in April 2022 and 2.2% a year before.increases in the cost of living"Moreover, lots of people in low-paid jobs already face a higher rate of inflation than the headline rate," she says. Jack Kennedy, economist at Indeed Hiring Lab, says that pay for specific jobs is volatile and increases are more likely to reflect short-term hiring challenges than a sustained premium for certain skills.
"Over the second half of last year, after reopening, a lot of sectors had to ramp up recruitment and compete for a diminished pool of labour."Brexit is another key reason for hiring squeezes in sectors like hospitality and driving.
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