Job prospect confidence rises in UK
LONDON, UNITED KINGDOM — Worker optimism is rising in the United Kingdom (UK) as 62% of employees expressed confidence in their job prospects for the upcoming six months.
The latest Robert Half Jobs Confidence Index (JCI) attributed this increase to the 23.1-point jump in macroeconomic confidence at the start of 2023. This rise has offset concerns over prevalent skills shortages, with the UK economy predicted to grow by 0.2% this year.
The report also reveals increased career progression confidence, with 45% of employees optimistic about their future prospects and career advancement over the next five years.
However, wage confidence is faltering in the country. The JCI’s pay confidence pillar has dropped 29.1 points quarter-on-quarter as the average total pay decreased by three percent in Q1 2023, post-inflation adjustment.
Matt Weston, Senior Managing Director UK & Ireland at Robert Half, warned that the current dissatisfaction with wages, amplified by a looming cost-of-living crisis, could trigger another nationwide talent exodus.
“In this environment, retention strategies that look at the entire remit of employment benefits will be key,” he added.
Robert Half collaborated with UK’s Centre for Economics and Business Research to create the latest JCI report.
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