UK Employment Data: December 2015

Generali

Main points for October to December 2015

There were 31.42 million people in work, 205,000 more than for July to September 2015 and 521,000 more than for a year earlier.

There were 22.98 million people working full-time, 387,000 more than for a year earlier. There were 8.43 million people working part-time, 134,000 more than for a year earlier.

The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.1%, the highest since comparable records began in 1971.

There were 1.69 million unemployed people (people not in work but seeking and available to work), 60,000 fewer than for July to September 2015 and 172,000 fewer than for a year earlier.

There were 924,000 unemployed men, 116,000 fewer than for a year earlier. There were 766,000 unemployed women, 57,000 fewer than for a year earlier.

The unemployment rate was 5.1%, lower than for a year earlier (5.7%). The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.

There were 8.88 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 88,000 fewer than for July to September 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 21.8%, lower than for a year earlier (22.3%) and only slightly higher than the record low of 21.7% last recorded for July to September 1990.

Average weekly earnings for employees in Great Britain increased by 1.9% including bonuses and by 2.0% excluding bonuses compared with a year earlier.

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

Rejoice :j

mayonnaise

Terrible, terrible...

All of them on 0-hours contracts, part-timers or self employed earning 57p per day. And most of them new jobs will have gone to foreigners anyway. :mad:
And how many of those 512,000 will join the daily commute and create traffic jams? Clapton won't be a happy chappy.

CLAPTON

does that mean that more people live in a nice property or less?

Generali

mayonnaise wrote: »

Terrible, terrible...

All of them on 0-hours contracts, part-timers or self employed earning 57p per day. And most of them new jobs will have gone to foreigners anyway. :mad:
And how many of those 512,000 will join the daily commute and create traffic jams? Clapton won't be a happy chappy.

Well indeed. Because Polish people.

I wonder what Graham_Devon will find in this news to show how the UK is in the poo...? There's always something.

HAMISH will take this as evidence that house prices will rise and Foxy will take it as evidence that house prices will fall.

Of course all 512,000 people will immediately want to move to Wood Green. Did you know they're getting the railway there? The horseless carriage is pencilled in for 2050.

wotsthat

It's easy to get mired down in the doom and gloom but the change in the economy in the last few years has been miraculous. My son left school aged 16 in 2010 and the job market, especially for young people was dire. He joined the forces and it now thinking about leaving. Granted he's better qualified but the job situation is chalk and cheese.

I should know because I was pretending to be him and applying for jobs on his behalf in 2010 and I'm doing the same now - I'm getting a much better response from potential employers.

lisyloo

DH was looking for a job in 2013 and found it really difficult especially in management where lots of companies were making cuts. Things were so bad he had to look in London :-)

I've been looking recently and in my first week I think I had as many interviews as he had in a year. Employers are trying to sell themselves and offer benefits/training and seem to be competing for candidates. I found a job in a matter of weeks although I started with a poor interview technique and lack of clarity about what I really wanted.
Having worked for a company that's been offshoring and not valuing staff for the last 16 years, it's a real turnaround to see companies valuing and developing their staff.

Generali

lisyloo wrote: »

DH was looking for a job in 2013 and found it really difficult especially in management where lots of companies were making cuts. Things were so bad he had to look in London :-)

I've been looking recently and in my first week I think I had as many interviews as he had in a year. Employers are trying to sell themselves and offer benefits/training and seem to be competing for candidates. I found a job in a matter of weeks although I started with a poor interview technique and lack of clarity about what I really wanted.
Having worked for a company that's been offshoring and not valuing staff for the last 16 years, it's a real turnaround to see companies valuing and developing their staff.

I'm glad to hear that there is a positive turnaround in the lot of the lisyloo family.

Unemployment is down to 5.1%. It is generally accepted that an unemployment rate of 5% is 'full employment' although I suspect that the full employment rate has fallen due to structural changes in the labour market for women (aka this time it's different).

michaels

Generali wrote: »

I'm glad to hear that there is a positive turnaround in the lot of the lisyloo family.

Unemployment is down to 5.1%. It is generally accepted that an unemployment rate of 5% is 'full employment' although I suspect that the full employment rate has fallen due to structural changes in the labour market for women (aka this time it's different).

I beleive unemployment in the relevant labour market (EU) is still over 10%? Don't forget only a few yeas ago Carney thought 7% UK unemployment might be a trigger for interest rate increases and yet the number employed must be up by well over a million since then.

As per the US interest rate thread nominal wage increases continue to decline - in theory given productivity growth, then 1.9% should not be inflationary although in a post industrial society acheving productivity growth may proove to be more tricky than it used to be.

One other telling stat, the inactivity rate is lower than during the 2007 boom suggesting Gordon Brown really did create a dependency culture.

antrobus

michaels wrote: »

I beleive unemployment in the relevant labour market (EU) is still over 10%? ...

10.4% in the EA-19 or Euro Area; 9% in the EU-28.

http://ec.europa.eu/eurostat/statistics-explained/index.php/Unemployment_statistics