Britain on Mend with Great Year for Jobs
The employment drought is over! Well… nearly. The end of this year will see Britain’s highest number of people in work since 2007.
According to Chancellor George Osborne in a speech he gave on Monday, the fact that the private sector is hiring more people shows the economy is getting better, and experts think the total number of people in work will get as high as 29.8 million.
Chancellor Osborne feels that because more people are in work, there are more people able to spend money, and they have been slowly building the economy up for the last year and a half. He thinks that household spending has played a significant part as the number of households in debt has fallen to the levels of 2004 – a marvelous achievement.
In response to Chancellor Osborne’s speech, Business Secretary Vince Cable advised him to make sure the good news of the economy doesn’t make everyone relax because hard work is still needed to be done. Cable suggested to Chancellor Osborne that just because the economy isn’t as bad as it was, doesn’t mean that it can’t get better.
ManpowerGroup Solutions – a multinational firm who help with economic consultations, among other things – carried out a survey that included over 2,100 employers and the results showed that retail employment is at the highest it has been for five years.
According to the survey, the North East showed a rise of 10% employment, which can’t be too bad after recently being dubbed “desolate”, and the North West are predicted to have their highest rates in eight years.
James Hick, the managing director of ManpowerGroup Solutions UK, said that the survey showed that the jobs market can look forward to a “game-changing year”. “Looking to the future we see further finance jobs in the pipeline,” Hicks predicted. “We expect financial institutions to gear up for this by taking on staff with the necessary skills.”
So what else can we hope to expect by the end of the year? Howard Archer, chief UK and European economy expert, believes we can lower our unemployment rates even more, dropping down to just 2.4 million.
Employment levels have improved so much that Britain actually has a higher employment rate than the US at the moment, with more than 1.3 million jobs created in three years.
With the recent reports from Daily Diamond about the rising UK Growth forecast, our economy as a whole seems to be on the up. We are currently enjoying a light drizzle of employment, hopefully leading to a steady rainfall of jobs by the end of the year.