This year has taken its toll on consumers and businesses alike, with both struggling amidst the financial pressures of the cost-of-living crisis.
As inflation has topped 11%, wage inflation is making the challenge of attracting and retaining staff that much harder for employers. Regular pay rose by 5.7% in the year to September 2022 – while this means salaries are not keeping up with rising prices, it nevertheless poses difficult questions for businesses on tight budgets.
Where the digital skills gap is concerned, these wider macroeconomic trends are worrying. Amid a talent shortage, filling digital roles will be challenging for employers unable to match increasing salary demands. Meanwhile, crucially, for people looking to improve their digital skills, the cost-of-living crisis risks creating more pronounced barriers – more on that below....