14.06.17

Labour Market Round-Up June 2017

The June office of National Statistics employment figures were released today.  The number of people in work, the number of vacancies and the Claimant Count have all increased.  The number of unemployed people, the number of economically inactive people aged 16-64 and average weekly earnings in real terms, all fell. 

There are now 31.95 million people in work, this is 109,000 more than in the previous 3 months and 372,000 more than for a year earlier.The 16-64 employment rate was 74.8% - the joint highest since comparable records began in 1971.

There were 1.53 million unemployed people, -50,000 fewer than in the previous 3 months and -145,000 fewer than for a year earlier.The unemployment rate was 4.6%, down from 5.0% for a year earlier and the joint lowest since 1975.

In May, the estimated number of people claiming Job Seekers Allowance and the unemployment part of Universal Credit increased by 7,000 compared to the April figure, to achieve a new total of 803,100. 

8.85 million people aged from 16 to 64 were economically inactive, 30,000 fewer than in the previous 3 months and 74,000 fewer than for a year earlier.The inactivity rate was 21.5%, down from 21.8% for a year earlier and the joint lowest since comparable records began in 1971.

Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (not adjusted for price inflation) increased by +1.7% excluding bonuses, compared with a year earlier.Latest estimates show that average weekly earnings for employees in Great Britain in real terms (adjusted for price inflation) fell by -0.6% excluding bonuses, compared with a year earlier.

There were 777,000 job vacancies for March to May 2017, 9,000 up on February to April 2017.  (This was 24,000 more vacancies than a year earlier.)

The total number of people aged over 16 in employment fell in four UK regions and countries. In the East Midlands it was 29,000 down, in the West Midlands the fall was 36,000 while in Wales the total 16 plus population in work fell by 4,000 and in Northern Ireland by 10,000.

The number of people aged 16 and over who were classified as unemployed rose in four UK regions and countries. (in the West Midlands it was up by 6,000, in London: the rise was 15,000, in the South East it was up by 3,000 while in Wales it rose by 7,000.

In the first quarter of 2017, the number of people working in the public sector fell by 7,000 to 5.42 million.  The number working in the private sector increased by 115,000 to 26.53 million.
 
The number of people aged 50-64 in work rose by 48,000 to 8.71 million.  The rise was split (up 5,000 for men and 42,000 for women). The employment rate rose +0.1% to 70.9%, and was up +0.6 % on a year earlier.
 

The overall number of people aged 65+ in work showed a very small decline of 1,000 to reach a total of 1.21 million. The number of men in work rose by 5,000 to 737,000 but employment was down by 6,000 for women.  At 10.4%, the overall 65+ employment rate was down by 0.1% on the previous 3 months and unchanged on a year earlier.   

Fifty plus unemployment fell by 15,000 to 294,000 (a rate of 2.9%) and was down by 50,000 on a year earlier.  The fall was split between men (a fall of 5,000) and  women (a fall  of 20,000).

50 plus long-term unemployment (12 months and over) has fallen over the quarter by 6,000 overall to 105,000.  (In fact long term unemployment fell by 9,000 for men but rose by 3,000 for  women).Over the past year, long term unemployment of people aged 50 fell by 41,000 (down 29,000 for men and down 12,000 for women).

The provisional number of people aged 50 plus claiming JSA & Universal Credit in April rose by 2,800 to 203,240 and was up 20,900 on the year.  The figures for men rose by 1,700 to 126,400, and for women it was up by 1,000 to 77,000 over the previous month’s figures.

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