The effect of the Olympic Games on UK Unemployment

The effect of the Olympic Games on UK Unemployment

The Olympic Games have left us all with an overwhelming sense of pride, a collective feeling of positivity and a much needed economic boost as thousands of visitors flocked to our city. But that’s not all, as well as leaving us a mountain of memories, the  Olympics have also contributed to the latest fall in UK unemployment.

The largest quarterly rise in the number of people actually in work for two years has a great deal to do with the Olympic show rolling into town, as well as the enthusiasm of the UK’s unemployed population in recognising the opportunity which the event presented.

The overall jobless total fell by 7,000 in the second quarter of this year, to an overall figure of 2.59 million. This represented an unemployment rate of 8.1%, a particularly pleasing figure for a UK jobs market that has been desperately seeking some good news in recent times.

The figures once again emphasise the impact that temporary employment can have on the UK jobs market, something that we at Kennedy Pearce highlighted last month. You can find out about available jobs, including jobs offering a temporary contract on our website’s Job Search feature.

London accounted for 5,500 of the overall drop in the claimant count (the number of people who claim unemployment-related benefits). This points incontrovertibly to a significant jobs boost from the Olympic Games.

The legacy of the Olympic Games is likely to be felt for years to come in sectors such as the economy and UK sport. However, the event can also serve as a major lesson for recruiters, employers and those in unemployment regarding the value of temporary employment and a strong work ethic.

Photo courtesy of &DG/Flickr

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