“More people are now in work and earning more, which should be celebrated. However, there is still the need for a degree of caution. The National Living Wage has rocked the jobs market this month – providing a vital boost to many low-earners and a long-deserved lift in their pay packet. And for jobseekers, there’s good news too, as advertised salaries rose 0.6% to £33,800 in February. With wages on the up, it’s an encouraging counter to rising inflation.
“But on the flip side, there’s still more work to be done. Employers need to recognise employee value even more. Reports of companies cutting employee benefits to foot an increasing wage bill again mean workers face fewer choices and less flexibility, which is a disappointing outcome for many.
“There is also a huge upcoming challenge on the horizon for companies in the UK. June’s Brexit vote is creating widespread uncertainty amongst employers, holding back hiring plans and disrupting the normal rhythm of the jobs market. This is only likely to worsen over the next couple of months and industries closely connected to the European market will be on tenterhooks. The resilience of the jobs market will be tested.”
ONS Labour Market Statistics, April 2016
- Between September to November 2015 and the 3 months to February 2016, the number of people in work and the number of unemployed people increased, but the number of people not working and not seeking or available to work (economically inactive) fell.
- There were 31.41 million people in work, 20,000 more than for September to November 2015 and 360,000 more than for a year earlier.
- There were 22.98 million people working full-time, 289,000 more than for a year earlier. There were 8.43 million people working part-time, 71,000 more than for a year earlier.
- The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.1%, the joint highest since comparable records began in 1971.
- The unemployment rate was 5.1%, lower than for a year earlier (5.6%). The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.
- Average weekly earnings for employees in Great Britain increased by 1.8% including bonuses and by 2.2% excluding bonuses compared with a year earlier.
