Business Owners Can Relax; Employment Surges!

24th January 2018.

According to recent data, the number of people in work rose by 102,000 in the three months to November. This will be good news to employers who will need their worker’s permanence and loyalty as the Brexit deadline draws closer. This should also reassure our members in the Construction industry to see a positive future, who are still struggling with an extended skills gap as EU workers return to their country of origin. The Credit Protection Association is an employer as much as a credit management company, and we understand the difference that can be made from a reliable work force. We encourage our members to encourage their employees through training schemes and a transparent business atmosphere.

The Office for National Statistics (ONS) has found employment at a record-high of 32.2 million.

Full-time jobs accounted for most of the increase, with workers aged 50 to 64 benefiting the most.

Overall, the figures went some way to alleviating worries that Britain’s labour market was running out of steam after a couple of months in dropping employment.

The increase has already had positive effects on personal finances, with workers already seeing a push in wage growth.

The ONS reported workers’ earnings rose by an annual 2.4 percent in the three months to November, the biggest increase since December 2016.

Including bonuses, pay growth remained at 2.5 percent.

According to economists, this new recovery may encourage some Bank of England policymakers to think interest rates should rise again before long.

The interest rates were hiked last November to 0.5 percent.

It is encouraging to the Credit Protection Association, as well as to our members, to see some positive news for the economy. While departing EU workers continue to hinder the construction industry, the increased employment suggests all industries could see a shake-up. We recommend business owners continue to encourage their employee’s ambition by promoting training schemes and management training. If employment continues to rise, people may start to change jobs in search of better opportunities. Keep your business happy by keeping your employees happy, and vice versa. If your cash flow is feeling the January blues, allow CPA to give it a bit of TLC. We have a range of products from credit management through to debt collection, to get your business thriving. Get in contact with the details below!