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Category: Industry News, job, vacancies, unemployment
New figures show that there are now a record number of job vacancies available in the UK, while unemployment levels have fallen to their lowest for six years.
This is according to the latest Labour Market Statistics from the government's Office for National Statistics (ONS), which also reveal there are now a record 30.8 million people in employment.
The data shows there are currently around 700,000 vacancies available for jobseekers to apply for, indicating an increase of 127,000 over the past few months, taking them to their highest level in 14 years.
In addition, the number of people entering work during the last year has increased by an average of more than 1,400 each day, with 80 per cent of this rise relating to full-time roles.
The UK's employment rate now stands at 73 per cent, which is the same level that it stood at before the recession hit the market in early 2008. For unemployment, the current rate is 5.8 per cent - the lowest it has been since the June to August period of that year.
Furthermore, the ONS figures show there are now a record number of women in work, with around 14.4 million currently having a job. Therefore, the female employment rate now comes in at a record 68.2 per cent.
Youth unemployment levels have also fallen over the past 12 months, decreasing by 171,000 to reach 520,000. This statistic refers to 18 to 24-year-olds who do not have jobs, excluding those who are in full-time education.
Commenting on the latest ONS figures, work and pensions secretary Iain Duncan Smith said: "We have reached an important milestone in this country's jobs-led recovery - with unemployment falling below six per cent for the first time in six years. Welfare reform has played an instrumental part in this.
"We know that British people want to work hard and get on, but all too often in the past the welfare state hindered rather than helped, thwarting ambition and killing off hope.
"We put an end to that and now the number of people claiming the main out-of-work benefits is the lowest for a generation and there are record numbers of people in work."
With a significant increase in the number of vacancies available, but prevalent skills shortages in many of the UK's industries, limited company contractors, freelancers and other self-employed professionals may in fact benefit from the situation.
However, this will only be the case if they possess coveted skills and qualifications, which can put them in the position of being able to approach a business about their vacancy, allowing the firm to take advantage of their talents on a temporary basis to complete the particular task they need doing.
Of course, this won't always be a practical option, but in industries such as the IT sector, expert digital skills are often only required for a particular task, putting contractors and freelancers at a significant advantage over those looking for more long-term roles. - See more at: http://www.paystream.co.uk/Limited-company-news/Record-number-of-job-vacancies-available-in-UK.aspx?aid=801771302&cid=438036713#sthash.sjONfbbZ.dpuf