The last three months of 2016 have seen somewhat of a slow down in terms of employment and an increase in the claimant count, but it’s not all doom and gloom as it has also resulted in the lowest unemployment rate in 11 years at 4.8%.
There has been a fall in the number of people who are long-term unemployed (-31,000) and a healthy decline in youth unemployment, with 34,000 more 16-24 year olds in work than in the previous quarter.
Wage growth has increased slightly, with annual regular pay growth having reached 2.6%, however as prices have raised more quickly the overall real earning growth is 1.7%.
While uncertainty remains as to exactly what 2017 will bring in terms of the economy and overall development, the signs are looking quite encouraging in terms of the job market and those looking for a new role.
For further details you can take a look at the CBI December Labour Market Update.