The latest official figures have shown that the number of people employed in Scotland is the highest it has been in five years.
There are now well over two and a half million people working in the country, showing a rise of around 37,000 between May and August 2013.
With the number of those employed standing at more than 2,500,000, there was further good news with the unemployment figure in Scotland. This dropped by 3,500, with just over 120,000 people claiming jobseeker’s allowance in September. Through the summer of 2013, there were more than 200,000 people out of work.
The data from the Office for National Statistics (ONS) also showed that the Scottish unemployment rate (7.3 per cent) is lower than the national average, which is presently standing at 7.7 per cent.
Other official figures released further strengthened the idea that the recovery is gaining speed.
Between April and June of this year, the economy in Scotland saw its fourth successive period of growth. It rose by 0.6 per cent, showing that firms, many having shored up their finance with invoice factoring, are seeing increased levels of business.
Talking about the news from the market, Alistair Carmichael, the Scottish Secretary, expressed his delight, saying:
“As part of the UK, Scotland gains from tax reductions such as the new employment allowance of £2,000 per year, benefiting 70,000 businesses in Scotland by £100m in total, and taking 35,000 businesses out of employer national insurance contributions altogether.”
Michael Swinney, the Finance Secretary, was also encouraged by the latest data.