According to the Office for National Statistics (ONS), employment levels increased by 42,000 in the three months to July, representing an employment rate of 73.5 percent with 31.09 million people in work.
Year-on-year the number of people in work has increased by 413,000 with 361,000 more working full time and 52,000 more working part time. Average weekly wages have also risen by 2.9 percent excluding bonuses. In response to the latest figures, Ann Swain, Chief Executive at APSCo, comments; “As I suspected, recent month-on-month dips in employment levels seem to have been nothing more than seasonal blips. According to official figures, job creation is now once again on the up, with a significant year-on-year increase in the number of people in work and a majority of these being full-time roles.
“The latest figures are representative of what the recruitment profession has witnessed over the past year. Greater confidence in hiring is reflected in the results of our latest UK Recruitment Index, published in conjunction with Deloitte, which found that the vast majority (83 percent) of recruitment firms reported growth in net fee income or gross profit over the past 12 months.”
Ann Swain continues; “It is unsurprising that average wages grew at their fastest pace in more than six years. As the war for talent continues to rage, attractive remuneration packages are a powerful tool to aid attraction and promote retention. Furthermore, with inflation currently at 0 percent, this growth is more significant than it may seem at first glance.”
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