On Tuesday, the Office for National Statistics (ONS) published figures which stated that between September and November 2018, 75.8% of individuals between age 16 and 64 were employed with paid salaries.
According to the report, 21% are not job hunting (economically inactive), while 4% are unemployed and this is also the lowest record since 1971.
Also, about 853,000 jobs were available between October and December 2018. This record beats the former which was taken a year before, by 39,000.
The net European Union migration has reduced since 2012, and this is good news for the British workers.
While the media and the politicians bewailed that the drop in the EU citizens number eager to use the free movement to move to Britain was because of the “Brexit uncertainty”; however, an average British worker has benefited from the drop in foreign Labour because employers now believe that the job markets which are now competitive means higher salaries for the Britons.
Last year at the Resolution Foundation, Stephen Clarke, a Senior Economic Analyst gave a warning to employers to adjust migration environment which is much lower, in regards to their products, their workers as well as their operations. This was in prospect of the end of low-wage workers which were unlimited, from the continent.
The Bank of England noticed the emerging rise in salaries and mobility of employees in Nov 2017, 17 months after the vote to leave the EU. At that time, Gertjan Vlieghe, a member of the Monetary Policy Committee in the Bank, did say that they have heard news of difficulty of firms to recruit not just in individual sectors but there is also an issue of broad-based pressure. However, lately, the firms are responding well with the increase in wages.
Low-skilled migrants still needed
While the Migration Advisory Committee (MAC) of the government reported that the migrants who are low-skilled are not required in the UK after Brexit, but the Tories have bowed to industry pressure, and thus, a 12-month work visa will be given to the migrants by Britain after Brexit.
This opens the door to the influx of less expensive migrant Labour is going to destroy the pledge made by the Conservative Party to reduce immigration, as well as, bring down the British workers’ wages.
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