New Figures Reveal UK Jobs Boost

10 Dec 2012

An increasing number of jobs are being created in the marketing recruitment industry, new research has suggested.

Chancellor George Osborne said "the British economy is healing" as he highlighted higher-than-predicted job creation figures in his Autumn Statement.

Peak unemployment has been revised down from 8.7 to 8.3 per cent, according to the Office for Budget Responsibility (OBR).

According to Mr Osborne, 1.2 million jobs have been created in the private sector since May 2010, which are 600,000 more than previously forecast by the OBR.

He said: "Employment, already at a record high, is set to go on rising each year of the forecast. For every one job less in the public sector, two new jobs are expected to be created in the private sector.

"And Britain now has a greater proportion of its people in work than either the eurozone or the United States. More jobs mean that the impact of the weaker than forecast GDP on the public finances has been less than some might have expected."

But it's not just jobs that have received a boost. The take-home pay of employees has also increased, as the chancellor announced a rise in the personal tax allowances.

The figure had been set to rise to £9,205 from next April, but today Osborne revealed it would rise by an extra £235. This means workers will have to earn £9,440 before paying any income tax from next year.

The Chartered Institute of Personnel and Development (CIPD) welcomed the new measures announced by Mr Osborne.

Peter Cheese, CIPD chief executive, said that the "…statement underlines that the road to recovery hinges on the continued ability of the UK’s flexible labour market to support employment growth in tough economic conditions.

"It also depends on the efforts of employers to improve employee engagement, innovation and productivity against a backdrop of prolonged fiscal consolidation and a squeeze on business and household finances."

Source: http://www.ashdowngroup.com/news/new-figures-reveal-uk-jobs-boost-news-801502592