New data shows that Great Britain’s employment rate is steadily rising.
More than 11,000 people are returning to the working world every week.
According to the country’s Work and Pensions Secretary Iain Duncan Smith, the British people are overcoming the devastation of the financial crisis, which has made them "the Envy of Europe."
The UK’s job market is growing twice as fast compared to any other country in the region.
Other countries in Europe are falling short to Britain’s advancements.
Italy and France’s unemployment rates continue to climb. Italy in particular has an unemployment rate that is twice as high as Britain. Other nations like Spain have a jobless rate that is more than four times the rate of the UK.
Germany, however, is experiencing small progress. The employment rate ranks second best in Europe—growing half as fast as the rate in the UK.
Yet, no other country has been able to beat out the UK’s rapid developing numbers.
Smith says this improvement stems from the public’s determination to transform the economic downturn Britain experienced in the past few years.
"Behind the record numbers are stories of British businesses up and down the country feeling more confident as they begin a new year, and of countless individuals who have turned their lives around and now have the security of a regular pay packet," Smith said.
In 2014, 368,000 people removed themselves from receiving benefits and financial assistance.
It’s evident that most people’s employment situations are changing for the better.
"By sticking to our long-term economic plan we are seeing more people in jobs than ever before, and in the last year alone there has been a larger rise in the number of people in work than any other EU member state," Smith adds.
Before the 2007 recession, the number of employed people in the workforce stood at efficacious digits. Following the financial meltdown, those numbers dropped.
These same digits have now returned to what they were before the nation’s recession.
The IRS Recruitment website reports that figures found by Eurostat reveal how 30.8 million people are now actively employed.
Smith’s Universal Credit reform last year may be the reason behind the rise in employment. The system combines six employment benefits into one single payment, including the income-based jobseeker’s allowance, income support, income-related employment and support allowance, housing benefit, child tax credit, and working tax credit.
Smith’s credit reforms—along with various other revisions—were designed to get people back to work and to make sure that workers don’t lose their benefits to employment.
This has obviously worked in favor of Britain’s struggling economy.
Current figures of today’s job market display the prosperity and growing success of the UK economy.
The nation’s environment continues to improve, especially when it relates to the local industries and its workers. Job-hunting has become even easier for those searching for employment.
As stated by IRS Recruitment, the economy is not only doing better than what it was before the recession, but it’s actually "stronger and more secure than ever before."