Jobs market stable, despite uncertainty

(3 minutes to read)

UK employers are looking for a green light to start investing and hiring again as soon as possible.

The UK jobs market remained stable in the three months to September with the employment rate down by just 0.1% compared to the previous quarter.

Total employment now stands at 76.0%, 0.5% higher than last year, according to new figures from the ONS. The unemployment rate decreased slightly from 3.9% last quarter to 3.8%.

The Recruitment and Employment Confederation (REC) and its members are calling on all political parties to back policy recommendations to boost the economy and support workers, with a manifesto to make great work happen.

Neil Carberry, CEO at the REC, said, “The UK labour market has shown incredible resilience in the face of uncertainty and political turmoil. This year has seen record numbers of people in work and there are big opportunities out there. But the warning signs are there in the form of slowing jobs growth and falling vacancies while REC data shows skills shortages across a number of sectors like construction and retail. This is why the election in 30 days needs to be about work. There are few things voters consider to be more important than this.

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Carberry added, “REC RoJ (Report on Jobs) data shows that employer confidence in the economy is at a low-point. Businesses are delaying hiring and rolling back investment plans. This is reflected in declining vacancies and rising unemployment. The next government must make reversing this trend a top priority.

“This is why our manifesto asks all parties to commit to making great work happen. Putting people at the heart of the industrial strategy – including through good recruitment – is an essential part of addressing the UK’s productivity problem. Our manifesto lays out a number of policy asks which together would support and protect workers while boosting business growth.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@contractorumbrella.com.

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