Unemployment figures remain stable, but the challenge is now longer-term, says REC

(2 minutes to read)

Vacancies are showing increases in the latest period, driven by SMEs, some of which are reporting taking on additional staff to meet Covid-19 guidelines.

The Recruitment & Employment Confederation (REC) has responded to the latest labour market statistics from the ONS.

Neil Carberry, Chief Executive of the REC, said “Despite a record fall in hours worked, unemployment remained stable to June – a sure sign that the Job Retention Scheme achieved its short-term aim. The challenge now is longer-term. Payroll data for July shows 730,000 fewer people in paid employment than in March. As businesses make decisions about the staff they need, this number is likely to grow in the coming months.”

“There are signs of a modest recovery in the rising number of job vacancies. Our Jobs Recovery Tracker shows that in mid-July there were over one million active job postings – a number that has been rising steadily. The challenge now is to help firms keep staff and boost hiring.

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He added, “That is why we have called for a targeted cut to National Insurance as a way of reducing the cost of employment without hitting pay packets. But more will be needed to support the newly unemployed, including support from professional recruiters through the Government’s proposed private sector advice scheme, and access to training. Government must now act with urgency to ensure these schemes are up and running through the autumn.

“Businesses need to enter 2021 with certainty – that means Government ensuring the brakes are off on the economy as it recovers. This must include a Brexit deal that helps firms to trade freely with Europe.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.