In Defence of Liberty

Driven by data; ridden with liberty.

UK Labour Market Statistics, May 2016

The Office for National Statistics have released their latest round of statistics on the UK labour market, covering the months of January 2016 to March 2016 [1].

In short, the number of people in work increased, whilst the number of unemployed people did not really change. The number of economically inactive people — who are not working, and not seeking or available to work — fell.

Crucially, the employment rate was 74.2% in the three months to March 2016, which is the highest rate recorded since comparable records began in 1971.

UK Employment rate (aged 16 to 64), seasonally adjusted

January to March 1971 to January to March 2016
uk-labour-market-statistics-2016-05-employment-rate.png

Source: Labour Force Survey: Office for National Statistics

The employment rate is defined as the proportion of people aged from 16 to 64 who were in work.

The number of people employed reach 31.578m, increasing by 44,000 since October to December 2015, and it has grown by 409,000 since January to March 2015.

The unemployment rate was still 5.1%, unchanged from October to December 2015. The employment rate was lower than for a year earlier (5.6%). This stasis can be observed in the unemployment level: it fell by only 2,000 to 1.692m since January to March 2015.

UK Unemployment rate (aged 16 and over), seasonally adjusted

January to March 1971 to January to March 2016
uk-labour-market-statistics-2016-05-unemployment-rate.png

Source: Labour Force Survey: Office for National Statistics

The economic inactivity rate is also reaching historic lows.

References

[1] ONS, 2016. UK Labour Market: May 2016. Available from: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/may2016 [Accessed: 18th May 2016]

Advertisements

One comment on “UK Labour Market Statistics, May 2016

  1. Pingback: Statistics and Lampposts XXVI: Net Employment | In Defence of Liberty

Comments are closed.

Information

This entry was posted on May 19, 2016 by in National Politics and tagged , .
%d bloggers like this: