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Adzuna comment on today's ONS Labour Market Stats

Doug Monro, co-founder of Adzuna, comments:

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“The sudden fall in the value of the pound has shaken up the economy. Despite this, initial Brexit plans are having little effect on the employment rate as jobseekers benefit from an increase in total advertised vacancies as well as average weekly earnings also being on the up, boosting the fortunes of those already in employment. However with the New Year fast approaching, challenges may lie ahead for employers looking to expand their talent pool due to the increase in hiring costs and more limited opportunities available to attract European talent as a result of the Brexit vote.

“Despite this, the gig economy continues to evolve and grow following the recent landmark Uber case enabling its drivers to no longer be considered as ‘self-employed’, gaining the right to be paid national minimum wage. The growth in this sector only serves to highlight how fast-moving and constantly changing today's job market can be.

“The future of the British employment market looks positive s as growing sectors such as the property industry and the charity and voluntary sectors have opened up opportunities for millions of people, as the unemployment rate fell to 4.8%. This shows that pre-Brexit predictions may not be coming true as fast as we once thought.”