UK Employment Rises Despite Economic Uncertainty

The proportion of people in the UK in employment has risen, in spite of the current economic climate.

According to the latest Labour Market Overview from the Office for National Statistics (ONS), the employment rate between November 2022 and January 2023 was 75.7 per cent.

This is 0.1 per cent higher than it was during the preceding quarter, which is thought to be down to a rise in part-time workers and those who are self-employed.

At the same time, the number of job vacancies dropped by 51,000 between December 2022 and February 2023. This is the eighth consecutive quarter of vacancy decline, which could be due to jobs being filled or employers not enlarging their workforce.

The ONS stated: “[This] reflects uncertainty across industries, as survey respondents continue to cite economic pressures as a factor in holding back on recruitment.”

These figures come as a series of strikes are taking place this week, with junior doctors, teachers and rail staff pursuing industrial action this March. This alone demonstrates the extent of workers’ grievances with regards to pay and conditions, particularly during this cost-of-living crisis.

Subsequently, those who are leaving school or university or returning to work after a long absence should think carefully about what industry they want to step into. Not only should they look for an employer that is expanding its workforce but also supports staff during this challenging economic climate.