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The Job Market in the UK – Is it Getting Better Out There?

by Megan Douglas - 18th September 2015

Finance Finding a Job

The Job Market in the UK – Is it Getting Better Out There?

So is it, really?

The question at hand cannot be answered or viewed from one perspective alone. This involves an in-depth analysis of all job sectors of the UK that contribute towards employment, graduate job, service jobs, industry-specific jobs, to name a few.

The overall stance of the UK job market indicates a stronger position as it has been on the rise following the bumps during the General Elections in the country.

The graduate job sector doesn’t look as good as it used to be, with average salaries dropping or remaining static. According to The Graduate Employment Market 2015 statistics, at least 350,000 graduates leave university each year; it's no surprise that there aren't enough good graduate jobs to go around, and it is only getting tougher with more people pursuing higher education and an influx of European graduates heading to the UK.

In contrast, the labour market in the UK has continued to strengthen further. Similarly, the service market in Britain has seen a boom in the year 2015 after a few slow run months. The IT sector is also starting to show domestic growth.

The rise in unemployment rates from 5.5% to 5.6% seems to be an alarming situation in terms of better job prospects. This is a cause for concern for the UK economists who are still trying to pinpoint the reasons for the decline and are considering this economic slowdown a warning for future graduates.

The situation is far from bleak though, as the statistics show, and the overall job market will keep strengthening over time.

JobsOutlook conducted a survey of nearly 600 UK organisations and presented the following promising statistics:

  • 7 in 10 (71%) employers plan to hire permanent staff in the medium term
  • 4 in 10 (41%) employers increased pay/earnings for staff in the last year, with none reducing pay.

To conclude, companies, during the surveys, stated that they would be hiring more in the coming years to expand job opportunity scenarios for fellow countrymen. Productivity will start to pick up soon hopefully as the job market builds up further.

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