According to the Office for National Statistics (ONS), employment levels dipped by 63,000 in the three months to June, representing an employment rate of 73.4% and the second consecutive quarterly fall.
However, in comparison to the same period last year, there are 354,000 more people in work – with 352,000 more people in full time roles. Average pay including bonuses was also up by 2.3% on an annual basis.
In response to the latest figures, Ann Swain Chief Executive at APSCo comments;
“Although employment levels have once again dipped on a month-on-month basis, I am confident that this is a seasonal blip. A significant year-on-year increase in the number of people in work, with the majority of these being full-time roles, is more representative of what the recruitment profession continues to witness: greater market stability and confidence in hiring.”
Ann Swain continues;
“The fact that wages have risen once again is a positive indicator of market confidence. Organisations are scrambling to get their hands on the brightest talent, and only those that can offer attractive remuneration packages stand a fighting chance. Separate figures released by the ONS show that income tax receipts rose to £11.5bn in June as wages climbed. With this in mind, I’m quietly confident that this quarter-on-quarter dip in employment is not a symptom of underlying market stagnation.”