Career Change Amid Better UK Employment Market
In a Guardian report yesterday the writer asked readers if it wasn’t strange that while Britain is in its first double-dip recession since the mid-1970s oil price surges, a record number of people are in work and youth joblessness was down by 50,000 in the three months to August? The UK’s Office of National Statistics (ONS) stated that for the three months to August 2012, employment was up by 212,000 and unemployment fell by 50,000.
This surprising fall in unemployment boosts hopes that Britain’s economy is starting to recover from recession as the number of people in work hit the highest level ever recorded. The economist Professor Jonathan Wadsworth of the Royal Holloway College, University of London contests this position as employment levels will increase year on year as the population of the UK changes annually.
Another factor is that UK employers appear to be behaving in a different way during this economic crisis compared with earlier crises. Many employers appear to favour pay restraint and reduced working hours as a means of controlling costs rather than cutting jobs.
While it is the case that many low-pay, low-hour jobs are being created where the wages don’t keep pace with inflation, a significant number of jobs are being generated. Furthermore, record numbers of new businesses are also being created in Britain today as many of those made redundant choose to start their own companies.
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