The UK Job Market in 2024: Key Trends, Opportunities & Salaries

Highlights: UK Job Market Trends

·?Employment in the UK rose by 1.3% between January 2023 and January 2024, reporting a recruitment of 386,000 new employees.

·?Recent reports have shown an increase in the UK’s wage growth rate since 2023.

·?The UK claimant count for March 2024, rose to 1.583 million.

·?The minimum salary requirement for a skilled worker visa will increase to ￡38,700 per year in 2024.

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UK Job Market 2024-25

Data by the Office for National Statistics (ONS) reports that net immigration rose to 672,000 in June 2023, with international students alone contributing 43% of the total figure. Skilled workers closely follow, making up around 37% of immigrants in the UK. Thus, the UK job market is highly dominated by international students and foreign skilled workers.?

The UK reported 908,000 job vacancies, demanding excellent opportunities for students and skilled foreign workers. There is high demand for job roles in sectors like IT Services, Banking, Engineering, Healthcare, and Social Media. The average annual salary in the UK ranges between ￡35,000 and ￡67,000.

According to a recent survey of foreign workers in the UK, nearly 79% of the workers expressed satisfaction with their job conditions in the UK. Oxford tops the list of cities with the highest employment growth rate, 16.4% in recent years. Winchester and Chichester report the highest business density among all cities in the UK. The UK job market had an influx of around 400,000 new jobs in various sectors, making it a top choice for immigrants to work and settle there.

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Top cities in the UK

The UK attracts job seekers worldwide with its great work culture, robust economy, high quality of life, and handsome yearly payroll. The cities in the UK have emerged as centers of business activity, offering exciting job opportunities to skilled immigrants.

Below is a list of the top 10 cities that have enlisted themselves as the best cities to live and work in the UK:

1. Glasgow

Glasgow is the third most populated city in the UK and one of the best cities to work in. It is an international hub for marine technology, the shipbuilding industry, and job opportunities across several other industrial sectors.

The top employers in Glasgow include:

·?Amazon

·?McDonald’s

·?J.P. Morgan

·?Tesco

2. Sheffield

Located in South Yorkshire, Sheffield is also known as the 'Steel City' of the UK. The city has a world-class reputation for the steel-making and metallurgy industry. There are ample job opportunities for people in the iron and steel industry.

The top employers in Sheffield include:

·?HSBC

·?NHS

·?Tesco

·?Amazon

3. Bristol

With a population of about 617,300, Bristol offers exciting job opportunities for highly skilled workers. The city is famous for its small business community, which focuses on the healthcare sector.

The top employers in Bristol include:

·??Bristol Hospital Health and Care Group

·??Bristol Connecticut

·??Barnes Group

·?American Customer Care

4. Manchester

Manchester is the leading producer of cotton and textiles and claims to be the first industrialized city in the world. The city has some of the fastest-growing digital and tech hubs in Europe and reports a high employment rate.

Top employers in Manchester include:

·?Accenture

·?PwC

·?Tesco

·?McDonald’s

5. Edinburg

Edinburg is a hub of booming tech companies in Scotland's central belt. The city has a high employment rate, offering handsome amounts to the employees. Skilled employees are not just recruited but also retained in the town.

Top employers in Edinburg include:

·?The Royal Bank of Scotland

·?Blue Branch Marketing

·?Baillie Gifford

·?Skyscanner

6. Birmingham

One of the most populated cities in the UK, Birmingham is also the origin of Cadbury’s chocolate. The city offers many job opportunities for employees across different industrial sectors.

Top employers in Birmingham include:

·?Sainsbury’s

·?Mondelez(Cadbury & Trebor)

·?National Express (West Midlands Travel)

·?ASDA

7. Liverpool

Statistical data shows that the cost of living in Liverpool is comparatively lower than that in other cities in the UK. The city also has several remote job opportunities, which attract job seekers from all around the world.

Top employers in Liverpool include:

·?Barclays

·?NHS

·?Amazon

·?McDonald’s

8. Leeds

Leeds is emerging as one of the fastest-growing cities in the UK, with its range of services and industrial sectors. The city offers opportunities in sectors including healthcare, education, digital marketing, print, and publication.

Top employers in Leeds include:

·?Deloitte

·?Capita

·?ASDA

·?KMPG

9. Cardiff

Cardiff, a city leader in financial and business services, welcomes professionals for dynamic job roles. Cardiff is a convenient business place, specifically for start-ups.

Top employers in Cardiff include:

·?Starbucks

·?Amazon

·?NHS

·?PWC

10. Newcastle

With a yearly economic output of $38.156 billion, Newcastle is one of the best cities to work in the UK. It ranks at the top of the well-being index, offering a low cost of living and better employment opportunities.

Top employers in New Castle include:

·?Sage

·?Accenture

·?Amazon

· NHS

Job Market Trends in the UK

Here are the top five job market trends to be noticed in 2024:

·?With the rising trend of AI, recruiters will use the Applicant Tracking System while recruiting.

·?Digital and technical skills are in high demand across all industries in the UK.

·?Industries like IT, Legal, Transportation, Finance, and accounting are likely to look at Green Skills as an approach towards sustainability.

·?Short-term opportunities and temporary hiring is to rise in the UK in the upcoming years.

·?Companies are expected to adopt hybrid work roles to address work flexibility in the post-pandemic world.? ?

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Skills in demand in the UK

The UK job market heavily depends on skilled workers in various industrial sectors. The demand for skills might vary depending on the industry and the job sector.

Here are the top five skills in demand for job seekers in the UK: ???????????????

1. Skills in technology

With the advancement of technology and AI, the demand for technological skills is always high in the UK.

IT sector professionals are expected to have the following skills:

·??Cybersecurity

·??UI/UX designing

·??DevOps

·??AI

·??Data Analytics

·?Data Science

·?Software Developments

·? Cloud computing

·?Project Management

2. Skills in Marketing

There is a growing demand for professionals who can create and execute effective marketing strategies. Following the rapid digitization of the world economy, marketing has also shifted towards digital marketing and advertisement.

The following marketing skills are in demand in the UK:

·?Advertising

·?Data Analytics

·?Copywriting

·?Social media management

·?E-mail marketing

·?Content Marketing

·?Communication

3. Skills in Accounting and Finance

According to recent reports, there is a rise in the demand for finance and accounting jobs in the UK. The demand is expected to continue till 2050, accounting for an average annual salary of ￡40,611. The top skills in the accounting and finance sector are:

·?Tax

·?Audit

·?Finance

·?Data Analysis

·?Time Management

4. Skills in medicine and dentistry

The healthcare sector in the UK is actively looking for skilled workers to fill job vacancies. The employment rate in this sector is 99.4%, and the skills in demand are:

· Healthcare assistance

·?Pharmacy

·?Nursing

·?Dentistry

·?Physiotherapy

·?Psychiatry

·?Health Administration

5. Skills in leadership and communication

In addition to all the industry-specific skills mentioned above, leadership and communication skills are forever in demand across all industries. Good communication skills are essential and sought after by all employers hiring for any job role.

In-demand jobs in the UK

Following the skills in demand, here are the top 10 most demanding job roles in the UK:

1.?Programmers and software developers

2.?Cyber Security Specialists

3.?Health Service and Residential Care providers

4.?Auditors and tax comptrollers

5.?Digital Marketing Professionals

6.?Business Analysts

7.?Teachers and Principals

8.?Operations Manager

9.?Sales Assistant

10.?Business Analyst

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Average salaries in the UK

The table below gives the list of the average salaries across the most in-demand industrial sectors in the UK:

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Benefits of working in the UK

With plenty of job offers across industrial sectors, the UK also offers numerous employee benefits for workers in various roles.

Some of the mandatory employee benefits in the UK are:

·?National Insurance Scheme

·?National Health Insurance

·?Workplace pension scheme

·?Statutory sick pay

·?Mandatory leave policies

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In addition to the mandatory benefits, some expected employee benefits in the UK are:

·??Private Medical Insurance (PMI)

·?Additional Paid Time off

·?Additional retirement benefits

·?Dental and vision insurance

·?Life Insurance

Key strategies to navigate through the UK Job Market

Navigating the UK job market is certainly manageable with the right tips and strategies.

Here are five tips that will help you steer your way through the UK job market:

1.?Develop digital and ?AI skills

2.?Connect with professionals in your field

3. Showcase soft skills

4.?Focus on your branding

5.?Be open and flexible

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How can Y-Axis help you to find a job in the UK?

As a leading visa and immigration consultancy in India, Y-Axis has been providing unbiased, personalized immigration guidance for more than 25 years. Our team of immigration experts will provide you with end-to-end support to help you get a job in the UK and UK immigration after that. We are here to help you with:

·?Free eligibility check with the Y-Axis UK CRS Score calculator

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