Unemployment rate drops to 7.8%, 100,000 more people in employment

London, 14 November 2012 – Today the Office for National Statistics released its monthly labour market report. 

Some of the highlights include:

• Employment has risen 100,000 from July to September 2012, up 0.2% from the three preceding months
• The unemployment rate is down 0.2% to 7.8%
• Total pay (including bonuses) rose by 1.8% over one year earlier; regular pay (excluding bonuses) rose by 1.9%

Phil Sheridan, Managing Director, Robert Half UK said:“Today’s ONS figures are promising – there are 100,000 more people employed which, while impactful for the larger economy, has such a significant impact for the individuals who find themselves back in gainful employment. These are huge wins for the UK.”

“There is still more work to be done. We need to ensure that companies have the resources, revenue growth and working capital needed to increase headcount, allowing them to commit to new ventures and expand operations. Organisations need highly skilled professionals who can provide insight and strategy into business process improvement, cost savings and new revenue sources, allowing them to grow despite lingering economic uncertainty. Commercially-aware accounting and finance professionals remain in high demand, as post-recession they have become the stewards for their organisations, steering toward growth and providing financial awareness throughout the business.”

ENDS