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Scottish employment level rises again

Category: Scottish Economy — Paul Morgan on August 20, 2012

Latest figures have shown that the rate of employment has risen again. This makes it the fifth consecutive period that has seen a rise.

According to the data from the Office of National Statistics (ONS), the number of people in jobs rose by 5,000 between April and June of this year.

This now means that there are 214,000 unemployed in the country – a jobless rate of 7.9 per cent. This is 0.1 per cent lower than the UK national average.

The ONS data also showed the number of people claiming benefits in Scotland has dropped in the same period.

Speaking about the news, Michael Moore, the Secretary of State for Scotland, said:

“The Scottish labour market is proving resilient and it is good news more people are finding work and fewer Scots are claiming benefit.”

The businesses group CBI Scotland also claimed that the figures showed the Scottish private sector was regaining its confidence. Traditionally, greater recruitment campaigns are a good indicator of corporate confidence.

However, many analysts remain confused by the improvements in employment levels.

It is true that many companies are growing, many helped with new strategies for commercial finance in Scotland such as invoice discounting. However, with a continuing downward trend for the nation’s GDP, reconciling rising employment levels is difficult.

There is a school of thought that job-seekers’ expectations are being lowered, with jobs with lower salaries being accepted.

If true, this could be the spark that the economy has been waiting for and though a rapid recovery is unlikely, a steady one certainly could be.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

1 Comment »

  1. Well done Scotland – hopefully, the GDP will start to go up again to reflect the rising employment levels. Let’s show the rest of the UK how to revive a flagging economy.

    Comment by Joel — November 21, 2012 @ 3:41 pm

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