2015 witnessed solid economic growth and while the UK economy looks set to remain in good health in 2016, global headwinds are a concern. The employment rate continued to rise in 2015, and now stands at the highest rate since records began. A range of industries have supported strong jobs growth including the professional, scientific & technical and accommodation & food
services sectors, benefiting workers at both ends of the demographic scale. Despite a tentative pick-up in productivity growth, a lot of ground has been lost since the crisis began, and the domestic challenges on the horizon such as the apprenticeship levy and the cap on skilled migration are a growing concern for UK businesses looking to grow and compete in a globally connected economy.
The UK’s recovery from the financial crisis in 2008-09 has taken some time. But the worst now looks to be over and the economy is growing at a solid pace. GDP expanded by 0.5% in the third quarter of 2015, which means that output is now 6.4% higher than just before the crisis began.