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Stuart Gentle Publisher at Onrec

ONS showed salaries continued to lag behind rising inflation - Michael Page reaction

Doug Rode, UK&I MD at Michael Page, reacts to the latest ONS labour market figures:

“Whilst the latest ONS data shows a drop in number of vacancies, at Michael Page we are continuing to see businesses seeking candidates in droves. The unprecedented demand shows just how much of a candidate-led market it is right now, with job seekers firmly in the driving seat.

“To cope with the demand, businesses are having to work even harder to attract talent and find ways to stand out among the competition. And when it comes to workers’ priorities, with the cost-of-living crisis taking hold, our recent data shows that salary is the key driver among those looking for new roles – even topping flexibility.

“That said, with three in ten currently on the hunt for a new job, rising to almost half of those aged 18-34, there are hopeful times ahead for businesses desperately trying to fill their skills gap. Salary is top of mind for many, but flexibility, skills training and job security follow as crucial aspects that could nudge candidates in the direction of a particular employer.”