Q What’s the job market looking like?

A Employment continues to improve in the UK, as the Office for National Statistics (ONS) reported that in the three months ending February 2015, there were 31.05 million people in work; an employed percentage of 73.4 per cent, which represents the highest rate since comparable records began in 1971.

This is an improvement of 248,000 people from the previous three-month period and 557,000 more than a year earlier.

The unemployment figures also improved, with 1.84 million people now without employment, a rate of 5.6 per cent (down from the previous 5.7 per cent).

This is 76,000 fewer people than in the previous three-month period and 416,000 less than a year earlier. Those claiming the Jobseeker’s Allowance fell to 770,000, a dip of 20,700 on the month and by 369,000 on the year. The long-term unemployment count – those deemed to have been out of work for a minimum of 12 months – also dipped to 623,000, a fall of 188,000 people. In the period covered by the ONS’s latest report, data showed that 107,000 people were made redundant, a substantial reduction from the peak of 311,000 recorded in 2009.

The number of 16 to 64-year-olds who are deemed to be economically inactive – that is out of work and not seeking or available to work – is now at 8.99 million.

This is 104,000 less than for the September to November 2014 period, but 11,000 more than a year earlier and represents an inactivity rate of 22.1 per cent, lower than the previous quarter but unchanged on the year.

On the supply side, there were 743,000 job vacancies available in the UK in the three months to March 2015, which is 124,000 more than a year ago and the highest number recorded since records began in 2001.

So overall, things seem to be pretty good.

Warren Shute chartered Financial Planner with Levington Wealth Management warren@levingtonwealth.co.uk