Administrative and support industry reported a 12.66% rise in weekly wages
In the continuous war for talent, it’s important for TA teams to ensure they’re paying market-related salaries in order to attract the right talent for their organisations. When workforce planning, TA teams should be sure to investigate what competitors in their industries are paying to be able to compete for good candidates.
In a recent study conducted by UK trading platform CMC Markets has found that the mining and quarrying industry has seen the largest increase in wages among all UK industries between January 2022 and January 2023.
The study analysed data from the Office for National Statistics’ Wages and Salaries Survey since January 2000. The average weekly earnings in the mining and quarrying industry rose by 12.95% over one year, from £1,203 to £1,382.
The administrative and support service activities industry comes in second, with a 12.66% increase in weekly earnings from £490 to £561. The professional, scientific & technical Activities industry takes third place, with an increase in average weekly earnings from £854 to £940, a percentage change of 9.15%.
The manufacturing industry for chemicals and man-made fibres and the education industry round out the top five, with weekly earnings increasing by 8% and 7.4%, respectively, between January 2022 and January 2023.