The Latest on the UK Labour Market: June 2014

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A quick look at the headline figures and some other interesting charts about the UK labour market.

Data released today: 11th June 2014

@statshan on twitter, Teaching with Statistics on Facebook and statshan on the TES website.

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The Latest on the UK Labour Market: June 2014

  1. 1. THE UK LABOUR MARKET JUNE 2014 These slides reflect the opinions of the author and not the official position of the ONS
  2. 2. “Not only are the Brits grappling with the longest squeeze on their wages since the 1870s, but they are being squeezed on hours too.” What did the media say last month?
  3. 3. Data Released Time Period Data Relates To Employment Feb – April 2014 Unemployment Feb – April 2014 Claimant Count May 2014 Average Weekly Earnings April 2014 Workforce Jobs Jan – Mar 2014 Public Sector Employment Jan – Mar 2014 Data Released on 11th June 2014
  4. 4. Highest level ever recorded – but this is related to the Increase in the UK population Highest quarterly growth ever recorded UK Employment: February - April 2014
  5. 5. 780 457 337 22 -37 -100 0 100 200 300 400 500 600 700 800 900 Total Employees Self employed Unpaid family workers Government supported training & employment programmes Thousands A 457,000 increase In the number of employees A 337,000 increase in the number of self-employed people Employment: Annual Changes
  6. 6. Lowest for five years, not seen this level or rate since 2009 UK Unemployment: February - April 2014
  7. 7. Lowest number of claimants since 2008 Claimant Count: May 2014
  8. 8. -4.0 -3.0 -2.0 -1.0 0.0 1.0 2.0 3.0 4.0 5.0 6.0 Jan- Mar 2009 Jan- Mar 2010 Jan- Mar 2011 Jan- Mar 2012 Jan- Mar 2013 Jan- Mar 2014 Earnings ex. bonuses Earnings inc. bonuses Consumer Prices Index Growth in earnings inc. bonuses rose above growth in consumer prices for the first time since 2010 last month. However, this month growth in earnings including and excluding bonuses has fallen below growth in consumer prices again. Earnings & Prices: Growth Rates
  9. 9. Growth in earnings inc bonuses: Jan – Mar 2014 = 1.9% Feb – Apr 2014 = 0.7% Why the fall? Earnings inc bonuses unusually low: last year many businesses waited to pay bonuses until April Growth in Jan – Mar 2014 was calculated by comparing: Jan – Mar 2013 to Jan to Mar 2014 Leading to 1.9% growth Earnings inc bonuses unusually high: last year an unusual amount of businesses paid bonuses In April rather than March Growth in Feb – Apr 2014 was calculated by comparing: Feb – Apr 2013 to Feb to Apr 2014 Leading to 0.7% growth Earnings inc bonuses normal for this time of year Earnings inc bonuses normal for this time of year Growth in Earnings inc. Bonuses
  10. 10. 15 16 17 18 19 20 21 22 23 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 % In June 2012 some educational bodies were reclassified to the private sector In December 2013 Royal Mail was reclassified into the private sector In March 2014 Lloyds Banking Group plc was reclassified into the private sector 17.7% The lowest since records began in 1999 % of Employment that is Public Sector Employment
  11. 11. 45 117 190 149 96 862 1082 0 200 400 600 800 1000 1200  Data on workforce jobs is different from employment data  People can have more than one job, so the number of workforce jobs will be higher than the number of people in employment  This data is collected from businesses Thousands  Increases in all types of jobs  But increases in jobs in the services sector is dominant Workforce Jobs – Annual Change

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