New Recruitment Stats for January 2016

New Recruitment Stats for January 2016

Recruitment stats for January 2016

2016, the Office for National Statistics released some extremely favourable employment data. These figures relate to the period from September 1 to November 30 2015 (except where stated), but were only published in January 2016.

The number of people in employment in the United Kingdom is 31,390,000, an increase of 267,000 compared to the previous three months and an increase of 588,000 when compared to 12 months earlier. 22,960,000 people work full time – up by 436,000 over the year – and 8,430,000 work part-time, up by 152,000 in 12 months.

Unemployment was down by 99,000 over the quarter, and down by 239,000 over 12 months, with the total number of unemployed people now standing at 1,675,000. 5.1% of the workforce were unable to find a job.

Most startlingly, the employment rate – the percentage of those aged 16 to 64 who are in employment – rose to 74%, the highest figure since this rate began to be recorded in 1971.

The number of people aged between 16 and 64 who were either not seeking work or who were unable to work is 8,920,000, representing 21.9% of people in that age bracket. The headline figure fell by 93,000 when compared to June – August 2015, and by 172,000 when compared to September – November 2014.

The number of vacancies continues to rise every month. At the end of the period September – November 2015, there were 748,000 vacancies in the UK job market, although this figure has since been updated to 756,000 for the period October – December 2015. This means there were 2.2 unemployed people for every vacancy as of November 30 2015.

Of the 756,000 vacancies, 674,000 are in the service sector. The individual business sectors with the most vacancies are wholesale & retail, with 139,000 unfilled roles; and human health and social care, which has 122,000 vacancies.

Wage growth is finally returning in the UK. At a time when inflation stands close to zero, average basic weekly wages in the UK rose by 1.9% over the 12 months to November 30 2015, and the average UK worker now receives £464 each week. When bonus income is included, the figure rose by 2% to £494 per week.

When we look at the number of job postings, data for January 2016 is already available. The sectors with the most jobs posted are retail (136,995), healthcare (124,482) and information technology (108,999). Compared with 12 months previously, the only sector showing a significant increase in the number of postings is hospitality, which is up 17% to 67,339. IT job postings are actually down by 14%, even though it has one of the highest total figures; and the largest fall is 17%, which applies to the manufacturing industries.

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