Latest Employment News
June saw the release of the latest Office for National Statistics (ONS) for the UK Labour Market. It showed that the UK unemployment rate was at 3.8% for the period February to April 2019 – the lowest since October to December 1974. The employment rate also remained at 76.1%, the joint-highest figure since comparable estimates began in 1971.
The estimated number of vacancies in the UK jobs market for the same period was 837,000. This was 11,000 more than a year earlier but 12,000 lower than for December 2018 to February 2019.
In addition to this, the latest REC (Recruitment Employment Confederation) Report on Jobs for May 19 showed that demand for staff continues to grow but at a lesser pace. There was a slight decline in permanent staff placements and the number of people starting in temporary jobs is at a 6 year low. The lack of available skilled candidates is still a major factor and uncertainty over Brexit and generally tight labour market conditions are cited as possible reasons for this. Competition for talent continued to place upward pressure on pay. Starting salaries awarded to permanent starters continued to grow sharply but the rate of inflation was the least marked for just over two years. Wages for temporary workers also increased at the quickest pace for six months, with the rise in the Living Wage being a possible factor for this. The Midlands saw the quickest rate of decline in permanent staff appointments with a drop also in the number of people starting in temporary roles.
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