Changing jobs has paid off for millions of middle-income Britons over the past year, according to data analyzed by Bloomberg.
Wages soared 10% in the past year for those taking new positions in England, data posted on Reed Recruitment’s platform showed. That’s well above the raises recorded in official data across all jobs in the economy.
The figures point to a labor market that remains red-hot, throwing doubt on Prime Minister Rishi Sunak’s vow to cut inflation in half this year. It also adds fuel to the case for higher interest rates from the Bank of England, which is widely expected to deliver another quarter point increase on Thursday.
Image Credit: Reed Recruitment; ONS
