Unemployment Rate Drops Once Again

Posted on 21 July, 2012 by Kirsten Kennedy

For those struggling to find work in commercial properties throughout the UK, there may be some news to brighten up this rainy day – the unemployment rate in the country has dropped further, meaning that more and more people are managing to find gainful employment.

The unemployment rate now stands at 8.1 per cent, meaning a drop of more than 0.2 percentage points. However, confusingly, the total number of people who are still unable to find employment in a commercial property is currently 132,000 higher than this time last year, suggesting that ever higher numbers of unemployed people are taking matters into their own hands and becoming self-employed.

Increases in employment occurred across most age groups, but by far the most sharp rises were in the over 65s. The number in this age group currently in commercial property employment has now reached 929,000 – a 3 month rise of 52,000, making employment in the over 65s the highest it has ever been since records began in 1992.

Additionally, London commercial property employment rose steeply, which is largely being put down to the presence of the Olympic Games in the city this summer. The genres of employment vary across all sectors, as the Olympics require construction workers, runners, guides and staff members to work within commercial properties affiliated with London 2012.

Chris Grayling, Minister for Employment, said; “This is an encouraging set of figures in what is still an incredibly difficult economic climate.

“Not only is unemployment falling but in overall terms there are now almost 100,000 less people on benefits since the 2010 election.

“We still have a long way to go but this is a step in the right direction.”

However, the real question is whether these positive steps in commercial property employment will continue to progress after the Olympic Games have ended, or whether UK unemployment figures will begin to creep back up again. As many of the roles in the Olympics are temporary, people may struggle to find alternative commercial property workplaces upon the conclusion of the Games, meaning that these figures are in effect null and void.

Yet finding commercial property work post-Olympics may not be the helpless struggle many claim it to be, as in the quarter, the number of vacancies also increased in keeping with the rising employment figures. Positions available in commercial properties rose by 10,000 to 471,000 nationwide.

Economist Howard Archer, of IHS Global Insight, says; “The labour market is displaying impressive resilience given the very real likelihood that the economy suffered a third successive quarter of contraction in the second quarter.

“It is evident that restrained earnings growth as well as significant increases in part-time jobs and self-employment is helping to keep unemployment down. In addition, the imminent holding of the Olympic Games is currently providing a boost to employment.

“The big question is can the labour market remain resilient given the economy’s ongoing weakness and the current very worrying and uncertain outlook? In the very near term, the staging of the Olympics is likely to help matters further.

“However, further out, the jobs outlook seems more problematical.”

It seems, then, that despite the promising figures released this week, the jobs outlook in the UK is still less than exemplary. Until the recession begins to recede, many unemployed people may continue to struggle to gain commercial property employment, in the opinions of the top economists.

However, what these figures do give us is hope that finally the labour market is improving and that commercial property businesses may soon be able to begin hiring at pre-recession rates once again.

Are you currently unemployed and struggling to find a job in a commercial property workplace? Do you believe that these figures indicate a brighter future outlook for the commercial property workers of the UK, or do you think that they are simply one off results due to the impending London 2012 Olympic Games?




2 responses to “Unemployment Rate Drops Once Again”

  1. Gaz says:

    Finally some good news!!

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