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Unemployment Drops to 5.3%

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Unemployment in the UK has dropped to a seven-year low of 5.3 per cent in the three months leading up to September, according to the Office for National Statistics - good news for all those currently seeking jobs for veterans.

Experts had thought that the unemployment rate in the country would remain the same as the 5.4 per cent seen in August, the Daily Telegraph reports, but it's now at its lowest rate since 2008.

Over the quarter, employment was up by 177,000, which means there are now 31.2 milion people in work.

Chancellor George Osbourne commented on the figures, saying: "Today's figures are excellent news - at 73.7 per cent our employment rate has never been higher and we are moving towards the goal of full employment."

However, it's thought that the hike in employment is down in large part to a 145,000 rise in part-time positions, which could drive down the average pay for workers in the UK. Wage growth was seen to be subdued, with pay climbing by three per cent compared to last year.

This comes after the Recruitment and Employment Confederation revealed that both permanent and temporary placements saw a faster rate of growth in October, with available vacancies also on the rise.

If you're looking for a new job having recently left active service, you may want to look to the construction industry, which is facing a severe skills shortage right now. It may well be that you have the perfect skill set that those in the sector are looking for at the moment.

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