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As ONS figures show real term fall in wages of 2.8% a new employee survey highlights cities most impacted by rising cost of living with Leicester, London and Birmingham workers most impacted

The leading Recruitment and Employment Technology Company, CareerWallet process up to 10 million jobs daily from recruitment companies and employers across the UK and has recently published a national employee survey showing detailed trends and insights into the UK job market.

ONS figures published this week show wages are rising, but not as fast as prices, resulting in a record 2.8% fall in regular pay in real terms. The national employee survey shows how this rising cost of living is impacting employees across the UK with Leicester having the highest percentage (53%) of employees considering a new role as a direct result of increasing costs. Leicester is closely followed by London (49%) and Birmingham (44%) of employees looking to move roles to increase income to help pay for rising bills.

The survey went on to show that employees in certain regions are not as concerned about increased costs with Plymouth the least impacted with only 18% considering new roles and Glasgow (22%) and Oxford (24%) also less affected compared to other regions.

The national survey from the leading tech firm shows how many employees are considering moving roles across the UK at the moment with 39% either actively looking or considering moving which means thousands of businesses are set to lose staff. The results highlight the importance of businesses offering pay rises that align with inflation to ensure more employees stay in their current roles.

Craig Bines, CEO at The CareerWallet Group, commented, “At CareerWallet we process millions of jobs a day and this allows us to quickly see how the job market is being impacted on a daily basis.

Our national employee survey has highlighted how important it is for employers to where possible review salaries and ensure they are aligned to inflation. It is a very competitive market, and it is a huge effort to recruit the right candidates at the moment and the last thing a business wants is for an employee to leave and lose their skill set and experience due to a small pay increase.”

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