Employment news part two: how close are we to full employment?
The employment rate continues to rise, reaching a new record high of 73.5 per cent in the first quarter of this year. How long can we expect the good news to continue? In our opinion, for quite some time. Of course, there is some seasonable variation on employment demand, especially in Dorset and Hampshire, but we have seen a sure and steady climb in enquiries from clients searching for quality candidates, particularly in growth areas such as IT, marketing, HR, management and accounting.
The Conservative party have promised to help businesses create two million new jobs, so that ‘full employment’ is achieved. Steps will be taken to eradicate the abuse of workers, such as non-payment of the minimum wage and they will also be asking companies with more than 250 employees to publish details of the average pay of their male and female employees – this should prove very interesting considering the recent Asda case.
David Cameron, in keeping with his Conservative roots, also promises to ensure that industrial action in health, education, fire and transport would require the support of at least 40% of all those entitled to take part in strike ballots, to keep business moving. Ahead of the rise in the minimum wage to £8 per hour, there is more good news in the fact that wages at all levels seem to be on the rise, too.
David Kern, Chief Economist of the British Chambers of Commerce (BCC) said: “The latest figures confirm that the labour market remains a major source of strength for the UK economy — with record numbers of people in work, and unemployment continuing to fall. It is also pleasing that earnings continue to increase, confirming the improvement in living standards.”