Jobs Market Stable Despite Brexit Turmoil

Jobs Market Stable Despite Brexit Turmoil

The UK jobs market remained stable in the three months to September with the employment rate down by just 0.1% compared to the previous quarter. Total employment now stands at 76.0%, 0.5% higher than last year, according to new figures from the ONS. The unemployment rate decreased slightly from 3.9% last quarter to 3.8%.

The number of job vacancies continued to fall to 800,000, 18,000 fewer than the previous quarter and 54,000 fewer than the previous year. Last week the Recruitment and Employment Confederation’s showed that employers were delaying or cancelling hiring plans amid continued Brexit uncertainty. Employers are looking for a green light to start investing and hiring again as soon as possible.

Neil Carberry, CEO at the Recruitment & Employment Confederation, said:
“The UK labour market has shown incredible resilience in the face of uncertainty and political turmoil. This year has seen record numbers of people in work and there are big opportunities out there. But the warning signs are there in the form of slowing jobs growth and falling vacancies while REC data shows skills shortages across a number of sectors like construction and retail. This is why the election in 30 days needs to be about work. There are few things voters consider to be more important than this.
REC – November 2019
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