Adzuna co-founder reflects on ONS figures
(The) figures confirm growth of 0.8% in the first quarter of this year, with year-on-year growth speeding along at the fastest pace since the recession. We must now ask whether the benefits of richer production are filtering through to British employees.
“The revival in British manufacturing, and stronger than expected construction output, are pushing up production levels, and helping to close the North-South gap in the labour market. Many new industries are setting up shop in Northern England, which is helping spur creation of many more job opportunities. In areas like the Wirral, the number of jobseekers going after each role has fallen from 57 to 17 over the last twelve months.
“Most importantly, salaries are starting to show signs of revival. As the production industry booms, employers are finding their profits shooting upwards, allowing them to finally raise wages. Advertised salaries rose for their second consecutive month in May, and this trend should continue into the summer.”