REC Response to ONS Labour Market Stats, December 2018

 

REC – UK jobs market continues to tighten amidst continued Brexit uncertainty

 

Today’s labour market statistics published by the Office for National Statistics (ONS) show the number of vacancies at 848,000 for September to November 2018, 10,000 more than the estimate for June to August 2018 and 40,000 more than the estimate for a year earlier.

 

The unemployment rate was 4.1%, virtually unchanged compared with May to July 2018 but lower than the estimate for a year earlier (4.3%). There were 1.38 million unemployed, 20,000 more than for May to July 2018 but 49,000 fewer than for a year earlier.

 

The employment rate (the proportion of people aged from 16 to 64 years who were in work) was estimated at 75.7%, higher than for a year earlier (75.1%) and the joint-highest estimate since comparable estimates began in 1971. There were 32.48 million people in work, 79,000 more than for May to July 2018 and 396,000 more than for a year earlier.

 

The number of people aged from 16 to 64 years not working and not seeking or available to work (economically inactive) was 8.66 million, 95,000 fewer than for May to July 2018 and 195,000 fewer than for a year earlier.

 

 

“Recruiters continue to work hard with employers to fill jobs and aid future growth – but with near-record numbers of vacancies in the UK labour market (848,000 for September to November 2018), and candidate availability tight, the challenge of finding the right staff is set to intensify. 

 

“These latest figures also don’t reflect the political uncertainties in the last week. Even before the latest turbulence, REC data showed employer confidence in the economy declining month on month – down from net: 6 in July 2018 to net: -11 in November 2018.

 

“Businesses need clarity regarding Brexit and a pragmatic approach to future immigration policy to deal with labour shortages. Employers are looking for reassurances from Government over our future relationship with Europe, but instead they are facing more uncertainty by the day.”

 

 

1. For more information, contact the REC Press Office on 0207 009 2157/2192 or pressoffice@rec.uk.com. An ISDN line is available for interviews on 0207 021 0584.

 

2. Our model predicted the unemployment rate would remain at 4.1% and that there would be an increase in unemployment of 23,000 in the three months to October.

 

3. The unemployment rate (the number of unemployed people as a proportion of all employed and unemployed people) was estimated at 4.1%, virtually unchanged compared with May to July 2018 but lower than the estimate for a year earlier (4.3%).There were an estimated 1.38 million unemployed people (people not in work but seeking and available to work), 20,000 more than for May to July 2018 but 49,000 fewer than for a year earlier. The economic inactivity rate (the proportion of people aged from 16 to 64 years who were economically inactive) was estimated at 21.0%, lower than for a year earlier (21.5%) and the joint-lowest estimate since comparable estimates began in 1971.

 

4. Latest estimates show that average weekly earnings for employees in Great Britain in real terms (that is, adjusted for price inflation) increased by 1.0% excluding bonuses, and by 1.1% including bonuses, compared with a year earlier.

 

5. Full data and PDF available here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/december2018 

 

6. Jobs transform lives, which is why we are building the best recruitment industry in the world. As the professional body for recruitment we’re determined to make businesses more successful by helping them secure the people they need. We are absolutely passionate and totally committed in this pursuit for recruiters, employers, and the people they hire. Find out more about the Recruitment & Employment Confederation at www.rec.uk.com