At last! With an increase in job flow, there is an increase in security. My advice previously to not leave your job was centred on ensuring you have a job and financial security. In a volatile market, as we have been experiencing, I could not hand on heart, advise people to leave their current positions. For me, the risk was too high. In making this statement, I am not saying that the market is back to where it was. But…. all signs are pointing positively and in an upwards direction, providing me with more faith and trust.
For us, December saw the highest number of jobs listed since March 2020 and January has continued in this manner. There has been an increase across the board for contract roles, maternity leave positions and temporary roles. This shows not only, there are vacancies and needs but that companies have faith in the market and are thus willing to spend on salaries. Increased business confidence – this is the sign we are looking for!
Now, that is my feeling and opinion, based on what I see through my lens, business, and professional experience, but let’s look at the numbers.
Our current unemployment rate is at 6.8% (this is the figure released in December for Novembers figures – leading me to think the rate may be even better than this) vs 7% in October 2020 and vs 5.2% for January 2020.
Let us also look at the underemployment rate – this, in fact, is more important in my opinion than the unemployment rate, for it considers the actual figure, i.e., not counting the part-time roles, reduced hours etc. This rate currently sits at 9.4% vs October’s underemployment rate of 10.4% and 11.4% for September. We are moving in the right direction!
