The unemployment rate in Britain has dropped, according to Business Week.
This could signal an end to employers’ hesitation to recruit new staff, reports have suggested.
Despite previous predictions that unemployment would increase, it appears that companies are looking to boost growth by creating jobs in London and other areas across the UK.
The figures from the Office for National Statistics showed that the unemployment rate in the UK now stands at 7.8 per cent.
Chris Grayling, minister for employment, commented on the stats, telling Managers.org.uk: “It’s good news to see a rise in the number of full-time jobs in the private sector and the fall in unemployment is welcome.”
The promising figures have been welcomed by a number of employment groups.
Ian Brinkley, the Work Foundation’s director of socio-economic programmes, hailed the new figures, stating: “These are better figures than expected. The strong growth in full-time work is especially encouraging as this is a key indicator of sustained recovery.”
The figures also helped the London market regain its poise after better-than-expected unemployment stats boosted investor confidence. The FTSE 100 Index closed 46 points higher after the figures were released.