Wednesday, October 13, 2010
Labour market - waiting for the cuts
Posted by David Smith at 10:30 AM
Category: Thoughts and responses

The latest labour market statistics probably look a little better than they are. Though the claimant count edged up for a second month in a row, rising by 5,300 to 1.47 million, the Labour Force Survey data were strong. Employment rose by 178,000 in the three months to August, pushing the employment rate up from 70.5% to 70.7%.

Unemployment, meanwhile, dropped by 20,000 to 2.45 million, pushing the unemployment rate down from 7.8% to 7.7%. There was a much bigger fall in the three months of July, suggesting that on the LFS data too, there was a softening over the summer. Earnings growth edged up from 1.3% to 1.7%. More here.