According to the Office for National Statistics (ONS), employment levels increased by 207,000 in the three months to October, representing an employment rate of 73.9% with 31.3 million people in work.
Year-on-year the number of people in work has increased by 505,000. There are currently 22.88 million people working full-time, 338,000 more than a year earlier, and 8.42 million people working part-time, 167,000 more than a year earlier. Average weekly wages have also risen by 2.0% excluding bonuses.
In response to the latest figures, Ann Swain, Chief Executive at APSCo, comments;
“With an employment rate of 73.9% and the ONS recording 747,000 vacancies from September to November – the highest number of vacant positions since comparable records began in 2001 - it’s clear that the employment market is benefiting from an economy showing steady signs of growth, increased market confidence and inward migration.”
“It’s not surprising that average pay continues to rise, particularly within the professional sectors, as organisations compete to attract the top talent and fill shortages. According to the latest monthly APSCo Professional Recruitment Trends report, remuneration has seen notably increased in key economic sectors, where addressing skills shortages is crucial in facilitating continued growth, in particular the banking and financial services market, where uplifts of 18.5% and 10.8% respectively have been experienced.”
