SALARIES are climbing strongly in professional services such as finance and IT, as demand for staff combines with low unemployment, recruiters said today.
Recruiters have seen the number of permanent vacancies on their books rise 29 per cent in the past year, according to the Association of Professional Staffing Companies (APSCo).
The number of vacancies for IT professionals rose 31 per cent, while finance and accounting jobs increased 17 per cent on the year.
Across all sectors, salaries are up 3.7 per cent on the year.
Engineering jobs lead the way on pay, with salaries up 10.5 per cent. In second place is finance, where pay on offer is up 5.3 per cent on the year.
Those strong increases compare with a national average increase of 1.7 per cent in weekly pay, in the year to November according to official statistics.
Inflation is also slowing down, falling to just 0.5 per cent in the year to December, meaning the healthy pay rises in professional sectors will go even further to boost workers’ living standards.
“As the UK takes the podium for the world’s fastest growing advanced economy, it is clear that this bright, fresh economic landscape will continue to have a positive impact on recruitment levels across the UK,” said APSCo’s chief executive Ann Swain.
“The fact that vacancy numbers within finance are once again showing significant signs of improvement reflects the reality that the recession is now well and truly behind us. It seems that London has undoubtedly regained its crown as one the most eminent international financial centres – and the value that brings to the UK economy should not be under-estimated.”