The UK Employment Market Plummets To The Lowest Since 1997

T

UK employment

According to various reports released on the latest employment market in the UK, workers from different levels of management are leaving jobs in the country. The number of workers who have quit their jobs has hit the highest since 1997, states many reports.

There is a massive vacancy of jobs in the UK with almost 845,000 unfilled positions as of November 2018. Many of the leading business organizations have highlighted that it is becoming extremely difficult to fill top-level positions due to the lack of qualified people.

The unemployment rate in the UK has risen to 4.1%, which rose from the record-low of 4.0% for the last 43 years. The last quarter itself lost more than 21,000 jobs.

However, it is not all topsy-turvy for the UK employment market. The number of job seekers has risen by 23,000 during the last quarter and there has been a growth in the wage by 3.2% as well. The total pay including other payments such as bonuses has also risen by 3.1%.

Though the crisis period is still not over and the UK employment market has to constantly conduct the recruitment process to fill up the positions, experts believe that the scenario can change. However, there is a fair warning regarding the fact that if the current trend continues, there might be a modest rise in the total unemployment as well.

Experts are looking keenly at the market and are hoping to see significant changes within a short period of time.

Source: www.theguardian.com

Image Source: www.theguardian.com

Leave a Reply

Your email address will not be published. Required fields are marked *