How is UK Job Market in 2023?
It has been observed that the job market, in terms of earnings, is favoring high earners, who are basically highly skilled people. As high as 72 percent of the employees in the UK earn GBP60,000 or more.
- Improvement of job quality
- Promote effective practices for people management
- Focus on better work-life balance for workers
- Promote healthy and productive work environments
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Expectations of growth in pay are high in the private sector. The median rise in pay in the UK is expected to be around 4%. Employers in the UK are mostly interested in recruiting new employees. In the private sector, around 72 percent, and in the public sector, around 84 percent of employers are expecting to recruit more workers. Immigrants will be a large part of workers in such recruitment.
Here are some crucial figures indicative of the way the UK job market is going:
There will be 1.3 billion job vacancies in the UK in August 2022.
Considering the number of job vacancies for skilled foreigners, here’s the data of employment rates by the UK regions:
|
Employment rate (%) |
Unemployment rate (%) |
|
|
UK |
75.5 | 3.5 |
| Great Britain | 75.7 |
3.5 |
|
England |
75.9 | 3.5 |
| North East | 71.2 |
4.4 |
|
North West |
73.8 | 3.5 |
| Yorkshire and The Humber | 74.4 |
3.9 |
|
East Midlands |
75.0 | 3.1 |
| West Midlands |
74.6 |
4.7 |
| East | 79.1 |
2.8 |
|
London |
75.1 | 4.0 |
| South East | 78.2 |
3.2 |
|
South West |
78.6 | 2.7 |
|
Wales |
72.1 | 3.3 |
| Scotland | 75.8 |
3.3 |
| Northern Ireland | 69.9 |
3.0 |
It’s expected that the GDP of the UK will grow by 3.3 percent in 2022. In 2023, the GDP growth will be 0.2 percent and in 2024, it will be 1 percent.
Looking at the quarter-by-quarter performance of the UK’s GDP contracted by 0.1 percent in Q2. The expectation in Q3 was another contraction of 0.1 percent in Q3, and 0.3 percent in Q4 of 2022. In Q1 of 2023, a growth of 0.2 percent is expected.
Coming to the unemployment rate, in 2022, it’s expected to be at a rate of 3.8 percent. In 2023 it will be 4.1 percent, which may be maintained in 2024 too.
Job outlook in UK, 2023
Here’s what jobs in the UK are projected to be like in 2023 while considering the progress that’s happening in 2022.
IT
In 2022, tech jobs hit a new high with the sector making up over 14 percent of all job opportunities in the UK. There’s huge requirement for IT professionals in the following occupations related to the industry sector:
- Web Design Professionals
- Programmers
- Software development professionals
- IT Business Analyst
- Graphic Designers
- SEO Professionals
Engineering
Engineers are also in high demand in the UK and are expected to continue to be in demand in the days to come. Here are some of the top occupations in Engineering in the UK:
- Nuclear Engineer
- Robotics Engineer
- Electrical Engineer
- Chemical Engineer
- Data Engineer
- Petroleum Engineer
- Biomedical Engineer
- Aeronautical Engineer
- Software Engineer
- Civil Engineer
- Mechanical Engineers
Healthcare
The importance of the healthcare industry and its occupations have only grown and will grow in 2023. Here’s a list of the top occupations in the healthcare industry in 2022:
- Plastic Surgeon
- Registered Nurses
- Pharmacist
- Neurosurgeon
- Psychiatrist
- Clinical Director
- Anesthetist
- Cardiologist
- General Practitioner
Science and Research
With the kind of encouragement the UK gives to science and research, the prospects for science-based professionals are on the rise in the UK. Here are some of the top scientific roles in this area:
- Environmental Scientist
- Research Scientist
- Senior Biologist
- Data Scientist
Hospitality
Be it hotel services or catering services, the demand and revenue from the hospitality industry are all set to improve and increase in the near future. In the year 2023, hospitality will be among the most significant sectors of the industry in 2023 and beyond. The industry is already expected to generate a revenue of around GBP1.4 billion in 2023.
Apply for a UK work visa
Here are the steps involved in applying for a skilled work visa in the UK.
Step 1: Check your eligibility - UK eligibility points calculator
You must first ensure that you have the eligibility to apply for the UK work visa. The minimum requirement is that you must have at least 70 points to qualify for a UK skilled worker visa. Here’s a snapshot of the points assigned:
|
Skilled worker requirement |
Points | Mandatory | Tradeable |
| A genuine job offer from a licensed sponsor | 20 | Yes |
No |
|
Speak English to the required standard |
10 | Yes | No |
| Job offer is at a skill level of RQF3 or above | 20 | Yes |
No |
|
Salary from GBP20,480 to GBP23,039 or a minimum 80% of the profession’s going rate (considering whichever turns out to be higher) |
0 | No | Yes |
| Salary from GBP23,040 to GBP25,599 or a minimum of 90% of the profession’s going rate (considering whichever turns out to be higher) | 10 | No |
Yes |
|
Salary of at least GBP25,600 or at least the profession’s going rate (considering whichever turns out to be higher) |
20 | No | Yes |
| Job in a shortage occupation as per the designation made by the Migration Advisory Committee | 20 | No |
Yes |
|
Education qualification: Ph.D. in a subject relevant to the job |
10 | No | Yes |
| Education qualification: Ph.D. in a STEM subject relevant to the job | 20 | No |
Yes |
Step 2: Choose your work visa
You can migrate to work in the UK under one of the different categories given below:
- Migrate as a high-value migrant
- Migrate as a skilled worker
- Migrate as a temporary worker
- Migrate to do specialty professions
- Migrate as a citizen of the Commonwealth holding British Ancestry
The requirements for each category could differ. Hence, it’s necessary for you to ascertain which type of migrant you are before you apply.
Step 3: Get your qualifications recognized
Your qualifications from your country of origin have to be submitted for assessment to get them allowed to be considered for migration as a foreign worker in the UK.
Step 4: Arrange a checklist of requirements
Here’s a checklist for documents and other requirements to migrate to UK as a skilled worker:
- Reference number of your Certificate of Sponsorship (CoS)
- Proof that you have English language skills to the required level (at least B1 on the Common European Framework of Reference)
- A valid passport (or any other document that confirms your nationality as well as identity)
- The job title
- The agreement on annual salary with your employer in the UK (minimum yearly pay of GBP25,600 or the going rate, whichever is higher)
- Occupation code of the job you are coming to the UK for
- Name of the employer in the UK
- The sponsor license number of the UK employer
Step 5: Apply for UK Work Visa
When you apply for a UK work visa, you must ensure that you have enough funds to pay the following:
|
Application fee: |
GBP610 to GBP1,408 |
| Healthcare surcharge: |
GBP624 (annually) |
|
Money to support oneself and family in the UK: |
GBP1,270 |
You may have to also pay an extra amount for your partner and children added to the application.
How can Y-Axis assist you?
For trusted and globally reputed multiple services necessary for a potential immigrant wanting to move to UK, visit Y-Axis. Professionals wanting to move to UK can seek our valuable services namely:
- Free UK immigration points calculator to figure out your best chances to move to UK.
- Expert assistance to apply for an UK residency.
- Immigration consultancy to show you the right path to immigrate risk-free and hassle-free.
- Expert coaching services for language proficiency tests like IELTS and PTE that are accepted in UK.
- Career counseling with expert advice.
If you are willing to migrate to UK, talk to Y-Axis, the leading immigration and career consultant in the UAE.
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