Record high for employment rates. The new figures published by the Office for National Statistics published today show that the Unemployment figure fell by 53,000 in the three months to March 2017.
There is still a growing skills crisis in the UK and this was commented on by Recruitment and Employment CEO Kevin Green as it backs up the REC data which shows that there are not enough Candidates to fill all of the posts.
One of the only ways to secure a pay rise these days is to change jobs as real wages are falling now which is never a good thing. The one good thing for Candidates is that Companies are offering higher starting salaries to attract them and changing of jobs is made easier with the skills shortage. The issue is that people are a little reluctant to change jobs right now as the economy is being put under strain.
This issue will have to be handle by Government as it will be a huge challenge to keep the job market on course and address the skills shortage. Of course Brexit will be another challenge to negotiate to allow foreign workers to come and work in the UK to fill the skills shortage.
There is an increase in Permanent Employment which is a good sign that business confidence is growing. This comment was made after Self Employment figures fell slightly. We are starting to see difficulties ahead, the CIPD’s survey results which were issued recently suggest that there will be a wage freeze announce by approximately 19% of companies or organisations and wages will stagnate or only rise by around 1% for this year.
The Job Market is very robust as the UK’s unemployment falls. This was commented on by John Salt from Totaljobs. Brexit and other Global issues have not caused the job market to falter and we are sure that after the elections on June the 8th things will continue to improve.