In Defence of Liberty

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UK Labour Market Statistics, January 2016

The Office for National Statistics released their latest round of estimations for the British labour market, covering September to November 2015 [1]. These reports are released on a monthly basis, and look at shifting three month periods across the years.

The employment rate — the percentage of people aged between 16 and 64 who were in work — was 74.0%, which is the highest since comparable records began in 1971. On the previous quarter, employment rose by 267,000 to 31.389m. The count of employees rose by 160,000, whilst self-employment increased by 121,000.

uk-labour-market-statistics-sep15-nov15

Employment continues to rise. (Source: ONS)

Unpaid family workers went up by 3,000. At 0.096m in September-November 2015: this category is 7,000 lower than a year ago. Those on government-assisted training and employment programmes fell by 17,000 against the previous quarter, down to 0.089m.

The unemployment rate — defined as the proportion of economically active people aged 16 and over who were not in any form of employment — fell to 5.1%. This rate is now similar to unemployment prior to the financial crisis towards the end of the previous decade. The latest unemployment rate still stands higher than the minimum in the comparable date range, where unemployment delved to 3.4% at two points in 1973 and 1974.

Given the astounding zeniths of employment within Britain, the next question is when the employment rate will reach 75%.

References

[1] ONS, 2016. UK Labour Market, January 2016. Available from: http://www.ons.gov.uk/ons/dcp171778_429765.pdf [Accessed: 20th January 2016]

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This entry was posted on January 21, 2016 by in National Politics and tagged , .
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