Employment rate the highest on record this month
The Office for National Statistics (ONS) have released their labour market overview for May 2019. In this blog, we’ll take a look through the report and detail the key points for you.
More people employed than ever before
The employment rate reached its peak this month at 76.1% of the population. This is the joint highest rate of employment since records began in 1971.
- An estimated 32.7 million people aged 16 and over in employment.
- This is an increase of 0.6% compared to last years employment rate of 75.6%.
Record high for female employment
We’re also seeing the highest rate of employment for women since comparable records began. The ONS statistic of 71.8% is an increase of 0.6% compared to last years female employment rate of 71.2%. This increase in female employment is likely due to changes in the state pension age, increasing to 66. This means women are working slightly longer too.
Janurary to March 2019 key statistics
There’s more key points to take away from this months ONS statement, we’ll go through each of them here;
- The unemployment rate is currently at its lowest since October to December 1974 at 3.8%.
- The inactivity rate is closing in on a record low, currently at 20.8% after decreasing by 0.3% on last years 21.1% rate.
- Average monthly wages have also increased by approx. 1.5% after adjusting for inflation.
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