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UK skills gap set to worsen in 2005

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Written by Administrator   
Thursday, 03 February 2005 14:58

According to a recent report from Lloyds TSB, the UKs skills gap will widen this year, leading to labour market bottlenecks. This could well have an upward affect on wages as companies compete for skilled labour.

The report, carried out by PayFinder.com a salary comparison website, found that the average UK salary is now 27,723 a rise on 24,489 in 2003.

The survey of 2,000 people tallies with a recent report from KPMG which found that two-thirds of medium-sized businesses in London expected the shortage of skilled staff to be a major barrier to growth in 2005.

The Lloyds TSB survey found that most workers consulted felt secure in their jobs and only one in four believed their position to be more precarious than last year.

 

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