Labour Market Update - May

Headline news for the Labour Market May 2019:

UK Employment rate at joint record high

• Higher skilled roles drive joint record high employment ratt of 76.1% and over 32 million people are in work in the UK
• Higher skill jobs market is driving continued record employment in the UK
• The UK unemployment rate fell again to 3.8% – lowest level since 1974.
• Female unemployment falling even further to a record low of 3.7%
• 14.8 million are now employed in higher skilled roles, from professional tradespeople to scientists, nurses and accountants – a boost of 2.6 million since 2010.
• Unemployment also remains at its lowest rate since the 1970s at 3.8%, a record proportion of people from ethnic miniorities are now in work at 66.5%

Minister of State for Employment Alok Sharma said:

“Maintaining our record employment rate with unemployment falling again to just 3.8%, its lowest rate since 1974, once again shows the success of our balanced approach to managing the economy.

Rising wages and booming higher-skilled employment means better prospects for thousands of families, and with youth unemployment halving since 2010, we are creating opportunities for all generations. 

We now need to shift some of our focus to upskilling people and supporting them into roles with real career progression to create a modern workforce fit for the challenges of the 21st century.”

 

Source: Department for Work and Pensions & Office for National
Statistics: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/may2019