Monday, 10 December, 2018

Scots unemployment rate down slightly to 4.2%

Builder Pay is surging in construction but not in many other industries Credit Dan Dunkley Cultura RF
Ginger Lawrence | 15 August, 2018, 11:23

Construction workers work on a site in London February 19, 2014.

He added: "The growth in employment is still being driven by United Kingdom nationals, with a noticeable drop over the past year in the number of workers from the so-called "A8" eastern European countries in particular".

The high number of vacancies suggests that the number of Brits in employment could rise significantly in the near future. The claimant count rate steadied at 2.5%.

A report, published by the Office of National Statistics, has shown that unemployment rates are at their lowest since 1975 and productivity across the board has improved.

The drop came despite a smaller-than-expected number of jobs created over the three-month period, 42,000 - less than half the average forecast by economists in a Reuters poll.

"Admittedly, the ILO measure of unemployment fell by 65,000, pushing the unemployment rate down to 4.0% - its lowest since 1975 - but this reflected a jump in the number of people leaving the workforce", she said in an email.

Annual wage growth, however, slowed to a nine-month low of 2.4 percent.

Air Quality Advisory for Metro Vancouver, Fraser Valley
As a result, Environment Canada has continued a special air quality statement for the entire Okanagan Valley. People should limit their time outside and refrain from vigorous activities like running or playing sports.

Meanwhile, there were 2.28million European Union citizens working in the United Kingdom in the quarter to June - 86,000 fewer than a year earlier and the largest annual decrease since records began in 1997.

Earnings in cash terms, including bonuses, increased by 2.4 percent in the three month period.

Excluding bonuses, pay growth fell to 2.7 percent, well below the 4 percent rate typical before the financial crisis a decade ago.

But the numbers hinted that, as the employment market is growing, the United Kingdom workforce is shrinking - partly due to Brexit.

"However, the number of vacancies is a new record high, while the unemployment rate is now at its lowest since the winter of 1974-75".

There are 780,000 people in employment on "zero-hours contracts" in their main job, 104,000 fewer than for a year earlier.

The number of nationals from the eight East European countries that joined the EU in 2004 fell by 117,000, an 11.7 percent drop on the year.