Following last month’s record high unemployment figures, this month’s made better reading with a fall of 17,000 in the three months to the end of February, putting the current level of unemployment at 2.48m.
The figures from the Office for National Statistics put the current rate of unemployment at 7.8%, but despite a growing jobs market, particularly for IT contractors, there are still concerns about the rate of private sector take up.
Employment Minister Chris Grayling described the figures as “another step in the right direct direction” and welcomed both the rise in jobs in the private sector and the fall in unemployment. However, he said there are still challenges ahead;
“Our priority is to continue to support the economy, by reducing the deficit and putting in place measures to encourage growth in the private sector.”
Tom Hadley, REC Director of Policy, echoed the comments of the latest REC Report on Jobs in describing the jobs market as ‘volatile’. Although he still believes that the private sector may be able to absorb the public sector cuts. He said;
“Today’s figures must not mask the fact that our jobs market remains extremely fragile. However, the slight decrease in the number of unemployed is welcome news and fits with the latest REC/KPMG Report on Jobs. This showed vacancies rising to their highest rate since April last year and gave a first tentative sign that the private sector may be able to absorb public sector job losses.”
Contractors and Freelancers have been highlighted recently as an effective and efficient answer to the current economic climate and jobs market, and will continue to be key in private sector recruitment.
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I think contracting is certainly one of the best ways to go given the unpredictable economic environment that we are living in today. In my opinion it makes sense to get a contractor whenever the need arises as getting a permanent employee entails having to pay that employee month after month when chances are there is no longer that much work to be done.
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