It has been announced that UK employment figures are at its highest level for three years as the private sector created a number of new jobs, which were able to help reduce the impact made by the loss of jobs during the government’s job cull that occurred in the public sector.
Statistics released this week showed that the total number of people unemployed fell by 51,000 to 2.61 million, in figures covering the 3 months to April of this year and which represents an unemployment rate of 8.2 per cent.
The rise of jobs available in the public sector, which represented 205,000 new employment positions in the first 3 months of the year, came at a time when 39,000 public sector positions were lost. The government hopes that the rise in the availability of jobs within the private sector will go some way to helping the 740,000 people expected to lose their jobs through cost cutting measures to find employment.
Although these figures represented good news, experts are predicting that unemployment will continue to rise throughout the course of the year due to the cuts being made in the public sector in addition to the impact of the euro zone crisis and the lowering of domestic demand for goods and services.
Salary growth grew by a reduced figure of 1.4 per cent in the 3 months up to April, squeezing people between higher inflation and poor salary growth.