Thursday, December 16, 2004

UK employment at all time high

Statistics released by the UK government suggest that UK employment (the percentage of those of working age who are in employment) rose last quarter & that the total number in employment is at an all time high.

Summarising
, National Statistics reports
Labour market statistics published on 15 December 2004 show continuing stability in the labour market. There is an increase in the employment rate, more people are in employment, and fewer people were made redundant but the number of job vacancies is down. The unemployment rate is lower, there are fewer unemployed people and the claimant count has also fallen. Growth in average earnings, both excluding and including bonuses, has increased.

It is worth noting that overall figures often hide structural shifts - some sectors always do better than others. For example, vacancies in Finance and Business Services have risen 22.6% on the year with vacancies in Transport and Communications falling by 9%

It is also worth looking at Deloitte's December Survey on Jobs which reports much the same, but goes into further detail on specific areas where the labour market is overheating.