Why is the unemployment rate the lowest that it has been in decades?
It may not seem like it, but unemployment is currently at the lowest level that it has been in the UK since the 1970s. The number of people who are unemployed in the UK is around the 4% mark when compared to how it has been over recent years is a marked improvement.
But why is this? What has made the unemployment rates drop so low? Why are more and more people in the UK looking for employment?
Wages in the UK is on the rise
Of course, wages could always be higher, after all, a wage is something that helps all of us with our living expenses, but at the moment wages seem to be on a good rate. There are some new jobs out there that pay a low wage, however, there are also those that pay a good wage. It really does depend on the type of work that you do, and whether the company pays a minimum wage or more.
Employers are offering better benefits
Whilst the salary that an employee is paid each month is one main factor that draws people to work there, it is not the be all and end all. Of course, you want to make sure that every single person who works for you is happy and takes pride in their work, but you also need to make sure that you treat them properly too.
Many employers are starting to work on the perks and benefits that they offer their employees. Work from home days, flexi time, more annual holidays and a number of wellbeing benefits, are all things that can make the difference between someone wanting to work for one company over another company.
Staff are more engaged with where they work
Engagement with company culture is one of the biggest reasons an employee wants to be in the workplace. Employees want to feel as if they can share a vision and morals with the place that they work for. It isn’t something that always clicks with employees, but it does seem that it is on the rise as companies investigate their company culture.
More and more companies are thinking about how they present themselves and how they put together their morals and visions. Which means that they will appeal to a range of potential employees. Employees want to work for a company that resonates with them as well as one that shares their thoughts.
As you can see, there are several reasons for why more and more people are looking for new jobs in the UK. We hope that things continue in this way and that unemployment starts to fall even further and we become a country that works hard for a living.