UK jobs market adds 212,000 jobs and unemployment down 0.2%

London, 17 October 2012 – Today the Office for National Statistics released its monthly labour market report. Some of the highlights include:

• Employment has risen 212,000 from June to August 2012, up 0.5% from the three preceding months
• The unemployment rate decreased 0.2% to 7.9%
• Total pay (including bonuses) rose by 1.7% over one year earlier; regular pay (excluding bonuses) rose by 2.0%

Neil Owen, global practice director, Robert Half International said:“While the long-term state of the economy is still unclear, today’s labour market figures are positive and may signal that the UK jobs market is finally turning a corner. We’ve seen 212,000 more people employed from June to August 2012 over the three preceding months, and a national unemployment rate falling 0.2% to 7.9%. While employment is growing faster than GDP, businesses tasked with growth are taking this opportunity to invest in highly skilled professionals to support new initiatives aimed at delivering return in the medium and long-term.

“Our clients still report a shortage of the most in-demand and commercially-minded professionals as most vacancies are for roles that will support revenue-generation and business strategy. The financial services sector is simultaneously charged with managing expanding regulation, minimising risk and ensuring compliance requirements are met while accountancy departments are also managing controls and financial reporting. Balancing these activities along with revenue generation is challenging, especially as companies aim to also manage head count costs with salaries rising for the most in-demand professionals in these niche areas.”