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Marketing youself - Essay Example

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When the economy remains at boom, demand goes high in labour market, hence the wages increases resulting in better living condition for the labour class. Again when economy faces…
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Marketing youself
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Download file to see previous pages From last phase of 2008 onward labour market is in a pathetic condition. Though the data relies by government and non-government agencies reveals that many companies started recruitment phase, but this is mostly at the lower level and for the employees belonging to the age group of 19-24 years. The important grounds for selection of these workers are Communication skill (54%), professional qualification (41%) and work ethics (39%). It has been declared that just 15 percent of the employees will receive a review in their pays in the year 2009. Only 8% of the companies are planning to heir migrant employees and these should be highly skilled (ICPD, 2009).
The labour market in UK is composed of 31.23 million people as of 2008. Approximately, 1.3 % of this population is engaged in agriculture, 24.2% in the industry and 74.5 5 in the services industry. The unemployment rate of the country is about 5.6% as of 2008. (CIA World Factbook, 2009).
UK has seen major ups and downs with regards to its employment rates. The percentage of the working population has however seen a northward trend since 1993. The report also states that the country spends the lowest amount towards the active based market programs when compared with other countries. UK spends less than 0.4% on its labour market programs as a percentage of the GDP which is much lower than its other counterparts in Europe. The reason for this can be attributed to the astounding success of the economy of the nation which has seen continuous periods of growth for about 57 quarters. Secondly there is very limited regulation and limits on the labour market. (Cort, n.d.).
The recent economic downturn has taken its toll on the job market in UK. The unemployment rates have risen sharply. The latest figures released by the government shows that the total number of unemployed people in UK is about 2.26 million as of 2009. Analysts predict that these figures ...Download file to see next pagesRead More
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