Increasing Numbers Of Jobseekers Due To Increasing Cost of Living

Increased inflation and high cost of living mean more people are looking to change jobs, but wages are not keeping pace.  Many workers say that their current income is inadequate, and with the Office for Budget Responsibility predicting that inflation will peak at around 9% before the end of 2022, the situation is likely to get worse.

Latest data from jobs website, CV- Library, reveals that 75.1% of UK professionals are now considering a new job purely because of the cost of living and rising inflation costs they’re facing.  The study, which surveyed more that 4,000 workers, also revealed that for 69.1%, salary is the main driver when considering a new role.  However, data from CV-Library’s live vacancies confirms that salaries are not keeping track.

Salary average, based on almost a quarter of million jobs posted on CV-Library, exposes the following industries, currently offering wages lower than they were a year ago:

  • -5% Retail
  • -1.6% Sales
  • -1.2% Social Care
  • – 1% Medical/Pharmaceutical/Scientific

The following industries have seen year on year average salary increases, but they are below the rate of inflation:

  • +2.7% Customer Service
  • 3.4% Engineering
  • + 4% Charities
  • +4.10% Education
  • +4.3% Legal

Lee Biggins, CEO and founder of CV-Library comments: “The pandemic pushed the desire for flexible and remote working to the fore but, whilst it is still important, we’re seeing this take a back seat as the need for more money takes precedence.  With unfilled vacancies still at record levels, businesses will need to balance their own increased costs with the salary needs and expectations of job seekers.”

About the author

Share this post

Sign up to our Newsletter

Follow IWORK on social

Subscribe to our Podcast

Latest Articles


HMRC Adds Four More To Tax Avoidance List

HMRC has updated (11/04/24) their published list of named tax avoidance schemes and promoters with the addition of four more companies: Acacia Management Services Limited

Don't forget to sign up to our newsletter

Subscribe to Podcast Series

Subscribe to our Podcasts through Apple Podcasts by following the links below:

All About Self Employment

Empowering Agency Workers

Sign up to our weekly updates by giving us your details below

Submit Review