With the UK’s General Election playing on everyone’s mind, we wanted to understand the Nation’s views on the current minimum wage and gauge how job-hunters feel the Election will impact the job market. We conducted an independent survey across 2,000 of our candidates, and here’s what they thought…
84% believe the minimum wage needs to be increased
52% would set a fair minimum wage at £7.50-£8.00 per hour
49% value happiness over wealth
UK job-hunters aren’t greedy
When asked “If you could set the minimum-wage, what would you consider to a fair pay?”, almost half of those surveyed felt that £7.50-£8.00 would be a reasonable wage. With an average living wage coming in at £7.85, this is proof that those looking for new employment just want a fair and liveable salary.
Britain’s professionals are not solely money-orientated
Even in the midst of the rising costs of living, almost half of us value happiness over wealth and would consider taking a minimum wage job if it meant it would provide increased job satisfaction. Friendly working environments, flexible working hours, and extra perks such as pension plan or private healthcare were all viewed as a reasonable alternative to money.
Minimum wage vs. housing prices
Sadly, with soaring housing prices and increasing costs of rent, many of us are unable to take a cut in pay. Almost a quarter of people could not be persuaded to consider a minimum-wage job, even if the role could provide them with greater job satisfaction. The harsh reality is, whilst most of us value happiness over wealth, many simply cannot afford to place job satisfaction as their highest priority.
Which political party will benefit the jobs market the most?
There is no clear winner! Whilst 29% of job-hunters believe that none of the political parties will improve the UK job market, the votes between Conservatives and Labour remain neck-and-neck. Despite Labour accounting for 28% of votes, 20% of job-seekers put their faith into Conservatives to benefit the Nation’s job scene; leaving only a slim 8% difference between the two leading parties.
With everything still to play for, we’re looking forward to seeing Friday’s outcome.