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Robert Half comments on the latest ONS Labour market figures - Competition for talent has swung the pendulum away from employers

Phil Sheridan, UK Managing Director of Robert Half, commented on the latest ONS Labour market figures

Phil Sheridan, UK Managing Director of Robert Half, commented on the latest ONS Labour market figures:

“It is not surprising that earnings have returned to their fastest rate of growth since 2009, as competition for talent has swung the pendulum away from the employer and there is a definitive shortage of skilled candidates for middle and top tier positions. Our research shows in the last year 83% of CFOs admit to offering salaries above what they originally planned to secure talented job candidates, while 33% of those have had to do so frequently.  There is simply not enough highly specialised talent to go round, as 92% of CFOs admit they are challenged in finding skilled professionals.  If this trend continues we expect earnings growth to push even higher in the latter half of the year.”