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Unemployment rate drops in the UK, says a new report

September 2013, 24
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In the last three months, the unemployment rate in the UK dropped from 7.8% to 7.7%. According to a statement issued by the Governor of the Bank of England, Mark Carney, in the upcoming months unemployment rate might further reduce to 7%.
 
UK Economy Drops
This is fantastic news for the UK economy as the unemployment figures in the UK have shown a downward trend after a long pause. The unemployment figure stand at the lowest level since February 2013; the number of full-time jobs has risen to 1.45 million. The figures of the private sector jobs are doubled as compared to last five years. This shows that the job market in UK is recovering with a positive sign, UK markets are cheering up with this news.
 
The fast recovery of UK job market opens the doors of opportunities for migrants who are interested to make UK their home. Between March and June 2013, the private sector employment rose to 114,000. UK is also looking at sourcing skilled manpower from different countries, including India. The IT sector in UK is facing a severe crunch of skilled manpower, especially skilled IT resources. Additionally, the currency value of the Great British Pound has risen against the US Dollar and Euro; it might just help the country for a swift economic recovery.
 
The chief economist at the British Chambers of Commerce, David Kern said, "The positive figures are a measure of the resilience and the flexibility of Britain's labour market,” The UK government expects that rapid growth in the private sector jobs might just help the country to recover from the economic crisis that it is currently facing.
 

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