Elon's Vision
  • Contacts
  • Privacy Policy
  • Terms & Conditions
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Elon's Vision
No Result
View All Result
Home Investing

Salaries being driven down despite the cost-of-living crisis

by
September 15, 2022
in Investing
0
Salaries being driven down despite the cost-of-living crisis
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Despite the cost-of-living crisis, salaries have dropped since Covid, with the initial uptick in economic activity in 2020 failing to line the pockets of UK staff.

That’s according to the latest data from the Association of Professional Staffing Companies (APSCo) – the trade body for the professional recruitment sector.

The data – provided by the global leader in software for the staffing industry, Bullhorn – revealed that despite the increased demand for staff since Covid hit the country, average permanent salaries dropped 8% between August 2020 and August 2022. During this same period, the number of permanent jobs added increased 48%, while contract roles rose 71%.

With statistics from the Office for National Statistics (ONS) in August 2020 revealing a growth in GDP for the second consecutive month, this latest data from APSCo indicates that salary increases have failed to keep pace with changes across the economy.

A similar picture is evident in pre-Covid comparisons, with remuneration dropping 7% between August 2019 and August 2022. This suggests that salary inflation across the professional recruitment sector has declined despite demand for talent increasing.

Ann Swain, CEO of APSCo commented: “Increasing salaries while our economic stability is being questioned is understandably unlikely to be a priority or even feasible for many businesses, but to see a decline in pre- and post- Covid salaries is worrying. Since 2019 we’ve witnessed a demand for talent on a significant scale and an initial surge in economic activity as restrictions were lifted, but salaries across the professional, highly skilled sectors haven’t risen in line with this. The result is now being felt across the country. With the impact of Brexit also still playing out, this decline in financial incentives for new hires will only have a detrimental impact on the country’s ability to attract the skills needed to bolster the UK’s economy.”

Read more:
Salaries being driven down despite the cost-of-living crisis

Previous Post

EU expects to raise €140bn from windfall tax on energy firms

Next Post

UK’s financial sector faces new wave of brute force DDoS attacks

Next Post
UK’s financial sector faces new wave of brute force DDoS attacks

UK’s financial sector faces new wave of brute force DDoS attacks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest

Jay Bhattacharya on Public Health

October 12, 2021

That Bangladesh Mask Study!

December 1, 2021

Antitrust Regulation Assumes Bureaucrats Know the “Correct” Amount of Competition

November 24, 2021
Pints of champagne could be the next ‘Brexit dividend’

Pints of champagne could be the next ‘Brexit dividend’

December 24, 2021

The VAT Consultancy Launches ‘My Virtual VAT Team’ to Support In-House Tax and Finance Teams with VAT and Customs Duty

0

0

0

0

The VAT Consultancy Launches ‘My Virtual VAT Team’ to Support In-House Tax and Finance Teams with VAT and Customs Duty

July 9, 2025

“The Institute of Cancer Research receives £10,425 donation from Oncogene Cancer Research to advance lung cancer research”

July 9, 2025

“Audiobook release: A memoir that impacted British culture”

July 9, 2025

2025 Queens of Halton Awards Honor Halton’s Most Prominent Women

July 9, 2025

Recent News

The VAT Consultancy Launches ‘My Virtual VAT Team’ to Support In-House Tax and Finance Teams with VAT and Customs Duty

July 9, 2025

“The Institute of Cancer Research receives £10,425 donation from Oncogene Cancer Research to advance lung cancer research”

July 9, 2025

“Audiobook release: A memoir that impacted British culture”

July 9, 2025

2025 Queens of Halton Awards Honor Halton’s Most Prominent Women

July 9, 2025

Disclaimer: ElonsVision.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • Contacts
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 ElonsVision. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 ElonsVision. All Rights Reserved.