Unemployment Rate Drops By 0.2%

More people have managed to pass interviews and secure themselves a job recently, after it was revealed the unemployment rate dropped over the last quarter.

According to the latest Labour Market Overview from the Office for National Statistics (ONS), the number of workers who considered themselves unemployed between July and September 2022 was 0.2 percentage points lower than the previous three-month period.

This took the unemployment rate to 3.6 per cent, which means it is now lower than pre-pandemic levels.

Indeed, it has dropped by 0.4 percentage points from between December 2019 and February 2020, and 0.7 per cent since July and September 2021.

This is great news for the job market, considering the current economic climate, as the unemployment rate exceeded eight per cent following the 2008 financial crisis. 

Not only does this show that businesses are still prepared to take on new members of staff, but it means that jobseekers are doing well showing off their hard-earned skills during interviews.

They might have done this by embarking on new career training, which gives them tips on how to research companies, write an appealing CV and personal statement, and understand assessment centres. It also provides valuable insight on how to prepare for interviews, including presenting well and communicating effectively.

The ONS also reported that the employment rate has remained consistent at 785.5 per cent from July to September 2022.

Although this is still 1.1 percentage points lower than before the pandemic, the employment level at the time had reached a record high of 76.5 per cent.