Cost-of-living crisis sparking demand for higher paid jobs, says recruiter

One in two workers plan to look for a new job in response to the cost-of-living crisis, research has suggested.

A survey of 2,300 adults in professional jobs by CV-Library found that more than one in four is already trying to get better paid work, while one in 10 said the state of the economy made them want to sit tight and stay where they are.

The jobs site said three out of four respondents felt the reversal of the 1.25% national insurance increase in November was not a big enough step to make a difference to their income compared to the cost-of-living increases they are facing.

Lee Biggins, chief executive of CV-Library, said: “UK professionals are taking a clear stand and while they cannot control the Government’s decisions or the economic crisis, they’re clearly feeling fearful and are prepared to take their own actions to protect their finances.

“An increased number of candidates in the current job market is undoubtedly a good thing for recruiters who’ve struggled to hire since the pandemic, and for the economy, but it’s not a solution to the overall crisis.

“Time is of the essence and the Government needs to take immediate action to address spiralling inflation and calm both the alarming spike in interest rates and the British public.”