Positive shift in UK employment during Q3

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A significant increase in UK employment has been witnessed in recent months

The latest employment data from the Office for National Statistics (ONS) has highlighted a considerable increase in the number of people in work across the UK in recent months, as well as a drop in the overall level of unemployment.

According to the latest UK labour market report from the ONS for August to the end of October this year, the three-month period saw a rise in the number of people in employment of 207,000 (to reach 31.3 million) in comparison to the preceding three months of 2015.

At the same time, the number of unemployed people fell by 110,000 to reach 1.71 million.

Overall, the data highlighted how 73.9 per cent of individuals of working age (16 to 64) are now employed in the UK, with the total number of people in work rising by more than 505,000 during the course of the last year.

Meanwhile, average weekly earnings in the UK rose by 2.4 per cent from Q3 2014 to Q3 this year and a fall of 63,000 was witnessed in the number of people currently not in the labour force and are considered to be economically inactive.

Responding to the data, national chairman of the Federation of Small Businesses John Allan stated: "The continuing growth in employment and wages is further positive proof of the ability of the private sector, and small firms in particular, to create good quality jobs.

"FSB research confirms smaller businesses are playing their role in job creation despite a cooling of confidence in recent months. This is likely to reflect a number of upcoming policy changes that businesses are grappling with, including higher than expected minimum wage increases, auto-enrolment deadlines, and changes to how dividends are taxed."

He added that moving forward, it is essential that the government continues to increase its support for the nation's small businesses heading into 2016, especially as many of these previously mentioned challenges will become increasingly pressing during the first half of the new year.

As a result, Mr Allan argued that further measures that might raise the cost of doing businesses for many of the UK's smaller companies should now either be put on hold or scrapped entirely if the government wishes to safeguard the current burgeoning drive towards economic recovery for the nation as a whole.