The Highest Pay Rise in a Decade?
According to the latest YouGov figures British employers are expecting to offer pay rises of 3% this year, which is the highest in a decade.
Average weekly earnings rose by 4.2% year on year in the three months to November 2021, faster than at any point between the financial crisis in 2008 and the start of the pandemic in 2020, according to the Office for National Statistics.
The CIPD reported that more than two-thirds of recruiters were expecting to hire by the end of March, and that plans to make workers redundant were lower than before the pandemic.
The hospitality industry has been particularly affected by both the pandemic and Brexit and salaries for this sector have risen by 12% to try to encourage more employees to these roles.