With the latest labour market statistics soon to be announced later this week, we look back at the latest labour market statistics from the Office of National Statistics which showed that the UK employment rate was estimated to be at an all-time high.
At the time of recording the UK employment rate was at a record high of 76.3%. According to the ONS 'employment' is measured by the number of people aged 16 years and over within paid work, the employment rate is then the proportion of people who are aged between 16 and 64 years old who are currently within a job where they are paid to work.
One of the primary reasons for the increase in employment rate is due to an increase in the employment rate of women due to the changes in state pension meaning that fewer women are retiring between the ages of 60 and 65.
Despite the rise in employment, the average weekly earnings for employees stagnated, remaining at 3.2% for total pay (including bonuses).
The main statistical highlights for the period from September to November 2019 where that;
Source:ALP Newsletter 172 January 2020
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