Brexit win: britons enjoying higher salaries after leaving the eu

Recruitment giant Reed has found the average salary in the UK has increased by four percent this year. Meanwhile, employees in the retail sector have seen a 10 percent increase in their

paycheck and salaries in the hospitality and catering sectors have increased by a whopping 18 percent, the recruiter said. Economists argue the end of free movement as a result of the UK

leaving the EU, and the furlough scheme has reduced competition for positions and therefore driven up pay. It also comes amid reports bosses in the hospitality sector have struggled to fill

vacancies and staff hours have been reduced during the pandemic. Analysis by Reed found the average salary in hospitality is now £26,888 compared to £22,701 last year and £23,425 in 2019.

The average salary in retail is now £29,310, compared to £26,758 in 2020 and £23,425 in 2019. Paul Dales, of Capital Economics, said Brexit and migration back to the European Union has

contributed to staff shortages in certain industries, but increased pay. He said: “I think there is going to be some labour shortages and upward pressure in those sectors that tend to employ

a higher share of migrants from the EU - such as agriculture and hospitality.” Philip Shaw, chief economist at Investec, said the cause of staff shortages and higher pay comes as fewer

young people are arriving in the UK following new travel rules and restrictions. He said “The exact cause isn’t entirely clear - it may reflect for example a lack of student labour. “There

is some evidence that EU workers going back to the EU - for workers in specific sectors, that may well lead to higher pay. “But it also might mean for customers that they are less able to

get the services or the goods they want to purchase.” READ MORE: BREXIT LIVE: BORIS HUMILIATES MACRON WITH JOKE ABOUT POOR FRENCH NAVY He urged the Home Office to consider a “reasonably

liberal” visa scheme for overseas workers. Earlier this month, the Home Office said it wants employers to focus on training and investing in British workers to fill gaps, but added it is

making it “simpler” for employers to hire from the EU and around the world.