UK Labour Market: April 2016

Main points for the 3 months to February 2016

Between September to November 2015 and the 3 months to February 2016, the number of people in work and the number of unemployed people increased, but the number of people not working and not seeking or available to work (economically inactive) fell.

There were 31.41 million people in work, 20,000 more than for September to November 2015 and 360,000 more than for a year earlier.

There were 22.98 million people working full-time, 289,000 more than for a year earlier. There were 8.43 million people working part-time, 71,000 more than for a year earlier.

The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.1%, the joint highest since comparable records began in 1971.

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There were 1.70 million unemployed people (people not in work but seeking and available to work), 21,000 more than for September to November 2015 but 142,000 fewer than for a year earlier.

The unemployment rate was 5.1%, lower than for a year earlier (5.6%). The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.

There were 8.87 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 121,000 fewer than for a year earlier and the lowest since May to July 2003.

The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.7%, the joint lowest since comparable records began in 1971.

Average weekly earnings for employees in Great Britain increased by 1.8% including bonuses and by 2.2% excluding bonuses compared with a year earlier.

The full report can be found on the ONS website.

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.