Make Getting A Job Your New Year’s Resolution As Employment Figures Reach All-Time High
There is just a couple of weeks until the start of 2019, so those who are currently unemployed or not in a career they enjoy could make getting a new job their ultimate New Year’s Resolution.
While resolutions typically fail before January has even come to an end, this could be one you succeed in, as employment levels are now at an all-time joint high.
According to the latest Labour Force Survey from the Office for National Statistics, the employment rate was 75.7 per cent for August to October 2018, with this figure never having been higher since records began in 1971.
During the quarter, there were 32.48 million people in work, which was an increase of 79,000 compared with the previous three months, and nearly 400,000 more than for the same period in 2017, showing just how much easier it has become for people to get jobs these days.
At the same time, the ONS data showed the number of unemployed people in the UK dropped by 49,000 from the year before to 1.38 million.
However, head of employment the Confederation of British Industry Matthew Percival commented on the slight increase in unemployed people for the quarter leading to October 2018.
While the number of unemployed people dropped over the preceding 12 months, it rose by 20,000 compared with between May and July.
Mr Percival said: “A record employment rate and a rising number of jobs that can’t be filled are further signs that the labour market is tightening and that employers are finding it increasingly difficult to hire the people they need.”
This could create great opportunities for those looking for a new career path to take advantage of the job openings available.
It may also be a good excuse to improve your skillset to make your application stand out from the rest. Embarking on business training courses, for instance, will help provide you with the right skills needed for jobs in commerce. Having formal training, as well as the relevant qualifications and experience, will give you an advantage over other candidates.
Mr Percival also noted that “pay growth is improving at its fastest and most sustained rate in a decade”. Therefore, Brits no longer need to have their salaries restricted and jobseekers can look for higher-paying positions than they are perhaps used to.
The ONS data reported regular pay in nominal terms increased by 3.3 per cent between August and October 2017 and August and October 2018, while regular pay in real terms rose by one per cent over the year.
In order to support this wage growth, the CBI believes the government needs to “focus more on providing a compelling vision for the coming years and tangible outcomes in each region”.
If they do this, this could mean even more opportunities for people looking to launch – or reinvent – their careers in the future. What’s more, if salaries continue to increase, this will lead to a more competitive job market, resulting in more people seeking training courses to better their skillset and creating a more skilled and qualified workforce across the whole country.