The UK paradox on employment

In its latest Economic Outlook released this morning, the OECD aims to shed some light on the so-called ‘UK paradox’ of employment rates rising while economic growth remains weak. Today’s Outlook says of the UK : “Although employment grew strongly in 2012, unemployment is expected to rise slightly in 2013, as the subdued recovery and continued uncertainty may make firms … Continue reading

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Nearly 70% now work in the EU’s service sector

Almost 70% of employed persons (which includes both employees and self-employed) in the 27 EU member countries, worked within the service sector in 2011. This was a sharp increase from the 62% recorded in 2000. These figures are according to the Labour Force Survey and have been made available this month by Eurostat. There is a distinction made in the … Continue reading

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The rate of employment in OECD countries is still well below pre-crisis levels

The OECD area employment rate – defined as the proportion of people of working age (those aged 15 to 64) who have a job – was 64.9% in the fourth quarter of 2011, according to new quarterly labour market statistics from the OECD released this morning. This is 1.6 percentage points lower than the 66.5% recorded in the second quarter … Continue reading

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Unemployment rises but could be flattening out

The headline figure shows that UK unemployment rose by 28,000 to 2.67 million in the three months to January, according to figures released today by the Office for National Statistics. This meant that the unemployment rate rose to 8.4% from 8.3% on the quarter, and this is the highest it has been since 1995. On the other hand there were … Continue reading

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Surprising rebound in UK manufacturing

Good news for the UK manufacturing sector. Output expanded in January at the fastest rate since March 2011. There was an increase in new orders together with a stabilisation in employment. Also, average input prices fell for the third month running causing an easing in the cost pressures which had been facing the sector. These findings are from the Markit/CIPS … Continue reading

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Fall in UK unemployment

Unemployment, measured by the Labour Force survey, fell by 36,000 in the three months to March 2011, to reach 2.46m. This is according to official statistics just released by the Office for National Statistics. This means that the unemployment rate was down 0.1 percentage point on the quarter, to reach 7.7%. The number of men unemployed fell by 31,000 to … Continue reading

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FDI creates few jobs in developing countries

 A new UNCTAD report on the status of foreign direct investment (FDI) in the world´s 48 poorest countries urges a changed approach that would focus such investment on creating jobs, as well as on enhancing those countries´ productive capacities – that is, their abilities to produce wider varieties of goods and more sophisticated goods. The report is entitled Foreign Direct … Continue reading

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Small drop in UK unemployment

The number of people out of work fell by 17,000 to 2.48m in the three months to February according to the Labour Force Survey measurement. The Office of National Statistics also noted that this represented a fall of 0.1 percentage point in the unemployment rate, to reach 7.8%. However, the alternative measure of unemployment, the jobseeker’s allowance or claimant count, … Continue reading

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UK unemployment rises to 2.53 million

In the three months to January 2011, unemployment reached 2.53 million, which is the highest figure since 1994, according to figures from the ONS. This means that the unemployment rate has reached 8%, up 0.1% from the previous three-monthly period, as an additional 27,000 people lost their jobs. However, by contrast, the numbers claiming Jobseeker’s Allowance (the claimant count) actually … Continue reading

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No recession for older workers

The last ten years has seen an increasing number of people aged 65 and over remaining in work, and is true of both full-time and part-time employment, according to a study recently published by the Office for National Statistics. Looking at the three months from October to December 2010, 2.7% of those aged 65 and over (270,000) worked full time, … Continue reading

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