The latest publication of the labour market statistics by the Office for National Statistics (ONS), has revealed that the employment rate has now reached 75.3% in the three months to July, the highest level since records began in 1971, Recruitment & Employment Confederation Chief Executive Kevin Green has commented:
“Businesses continue to hire despite economic and political uncertainty. The fact that 379,000 more people are in jobs compared to a year ago is great news.
“However, inflation is increasing and real wages are failing to keep up, so many people will be feeling a pay squeeze. Our data suggests that in many areas of the jobs market employers are offering more money to new recruits in order to secure people with the skills they need. This is a response to the tightening labour market and skills shortages which are affecting many different sectors, from engineering to food production.
“With unemployment now at 4.3 per cent it’s going to get even harder for employers to fill jobs. There are just 1.9 unemployed people for every vacancy. This challenge is being exacerbated by a fall in net migration from the EU. The idea that there are enough people in the UK ready and willing to take the jobs available is unrealistic.
“Businesses can only grow if they have access to the people and skills they need. It is essential that the government recognises this by developing an evidence-based immigration system that will support the economy.”
Following these statistics, Robert Bond, Director at Bond Williams says:
“The increase we have seen in job-seekers successfully placed into new roles compared to a year ago shows a growing demand from local employers for new employees to support their business plans for 2017, and the quality of candidates that employers are looking for still remains as high. Companies are no longer focused on just providing a good salary, recognising that employees value brand, flexibility, benefits, and opportunities to progress and shape a successful career is just as important for attracting and retaining the best talent around.”
Our Consultants at Bond Williams would be delighted to help with your next vacancy. Please contact us on 01202 233777 or firstname.lastname@example.org for more information.