UK Labour Market Stats

Generali

http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/january-2016/statistical-bulletin.html

Bad news for anyone that wants a Labour win in 2020:

Main points for September to November 2015
There were 31.39 million people in work, 267,000 more than for June to August 2015 and 588,000 more than for a year earlier.
There were 22.96 million people working full-time, 436,000 more than for a year earlier. There were 8.43 million people working part-time, 152,000 more than for a year earlier.
The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.0%, the highest since comparable records began in 1971.
There were 1.68 million unemployed people (people not in work but seeking and available to work), 99,000 fewer than for June to August 2015 and 239,000 fewer than for a year earlier.
There were 919,000 unemployed men, 149,000 fewer than for a year earlier. There were 756,000 unemployed women, 89,000 fewer than for a year earlier.
The unemployment rate was 5.1%, lower than for a year earlier (5.8%). It has not been lower since August to October 2005. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.
There were 8.92 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 93,000 fewer than for June to August 2015 and 172,000 fewer than for a year earlier.
The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.9%, lower than for a year earlier (22.4%). The inactivity rate has not been lower since October to December 1990.
Average weekly earnings for employees in Great Britain increased by 2.0% including bonuses and by 1.9% excluding bonuses compared with a year earlier.

Mistermeaner

How many doing bull sh it jobs with their lifestyle funded by tax credits?

michaels

As opposed to sitting around at home with their lifestyle funded by the taxpayer as used to be the case when employment was lower?

Generali

Mistermeaner wrote: »

How many doing bull sh it jobs with their lifestyle funded by tax credits?

How would you define the BS job? We might be able to see from ASHE data for example.

antrobus

Generali wrote: »

...Bad news for anyone that wants a Labour win in 2020:

Oh, I don't know.

The usual suspects will eventually come along to inform us that these are all made-up numbers, and that in reality all these people only have pretend jobs funded by tax credits and food banks, and that revolution is only just around the corner, just as soon as everyone realises the depth of the conspiracy, and stops believing in the lies of the Tory Press.

mwpt

It hasn't really translated into stellar wage rises though. I don't see that happening for a while either. Technology, offshoring and global labour market continue to suppress wages in the middle. I don't see any of those pressures easing off.

But, we do appear to be creating jobs.

HAMISH_MCTAVISH

mwpt wrote: »

It hasn't really translated into stellar wage rises though..

Around 2% above inflation...

Guessing that's pretty close to historical averages.

CLAPTON

mwpt wrote: »

It hasn't really translated into stellar wage rises though. I don't see that happening for a while either. Technology, offshoring and global labour market continue to suppress wages in the middle. I don't see any of those pressures easing off.

But, we do appear to be creating jobs.

stellar wage rises are possible if there is stellar inflation and/or stellar productivity improvements and a limited labour force

realistic expectations may be real increases around 2% per annum but with the labour force increasing to fill any labour shortfall, even that is pretty optimistic.

Generali

HAMISH_MCTAVISH wrote: »

Around 2% above inflation...

Guessing that's pretty close to historical averages.

Yup, that's pretty much spot on historical averages. For pretty obvious reasons, wages tend towards GDP growth.

CLAPTON

Generali wrote: »

Yup, that's pretty much spot on historical averages. For pretty obvious reasons, wages tend towards GDP growth.

the logic is that wages sort of track GDP per capita

Generali

CLAPTON wrote: »

the logic is that wages sort of track GDP per capita

Yes it is ultimately. There is sometimes a short term break either up or down but ultimately it reverts to trend.