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UK Labour Market Analysis - February 2019

 

Estimates from the Labour Force Survey show that, between July to September 2018 and October to December 2018, the number of people in work increased, while the number of unemployed people and the number of people aged from 16 to 64 years not working and not seeking nor available to work (economically inactive) both fell.

There were an estimated 32.60 million people in work, 167,000 more than for July to September 2018 and 444,000 more than for a year earlier.

The employment rate (the proportion of people aged from 16 to 64 years who were in work) was estimated at 75.8%, higher than for a year earlier (75.2%) and the joint-highest since comparable estimates began in 1971.

Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 3.4% both excluding and including bonuses compared with a year earlier.

Unemployment Rates

The unemployment rate (the number of unemployed people as a proportion of all employed and unemployed people) was estimated at 4.0%, it has not been lower since December 1974 to February 1975.

There were an estimated 1.36 million unemployed people (people not in work but seeking and available to work), 14,000 fewer than for July to September 2018 and 100,000 fewer than for a year earlier.

Vacancies

There were an estimated 870,000 job vacancies for November 2018 to January 2019. This was:

16,000 more than for August to October 201846,000 more than for a year earlierthe highest estimate since comparable records began in 2001

There were an estimated 2.9 job vacancies per 100 employee jobs for November 2018 to January 2019. The industrial sectors showing the largest estimated vacancy rates were accommodation and food service activities, and information and communication (both 4.2 vacancies per 100 filled employee jobs). The sector showing the smallest vacancy rate was public administration and defence (1.7 vacancies per 100 filled employee jobs).

 

Source: ONS