Wednesday, October 17, 2012
Strong labour market data
Posted by David Smith at 10:30 AM
Category: Thoughts and responses

Another excellent set of labour market numbers, the highlights of which are as follows:

The employment rate for those aged from 16 to 64 for June to August 2012 was 71.3 per cent, up 0.5 from March to May 2012. There were 29.59 million people in employment aged 16 and over, up 212,000 from March to May 2012.

The unemployment rate for June to August 2012 was 7.9 per cent of the economically active population, down 0.2 from March to May 2012. There were 2.53 million unemployed people, down 50,000 from March to May 2012.

The inactivity rate for those aged from 16 to 64 for June to August 2012 was 22.5 per cent, down 0.3 from March to May 2012. There were 9.04 million economically inactive people aged from 16 to 64, down 138,000 from March to May 2012.

Between June to August 2011 and June to August 2012, total pay (including bonuses) rose by 1.7 per cent and regular pay (excluding bonuses) rose by 2.0 per cent.

Overall employment is now back above pre-crisis levels, though its composition has changed. The ONS has done a useful five-year comparision, available here - all in all, another remarkably good set of numbers.