Female unemployment rate lowest since 1971

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Britain’s female unemployment berate in the first three months of the year has fallen to 3.7%, the lowest since comparable records began in 1971.

The Chore for National Statistics included the figure in data showing the overall unemployment price in the three-month period stood at 3.8%, the lowest rate since news 1974.

For men the rate was 3.9%, the lowest since mid 1975.

Excluding bonuses, average weekly earnings for staff members rose by 3.3%.

What is happening to unemployment?

The ONS said that unemployment grades for both men and women have been falling since late 2013.

Ben Brettell, postpositive major economist at Hargreaves Lansdown, said the unemployment figures were well-established given the issues facing the economy.

“The UK labour market has been remarkably resilient in the guts of Brexit-related uncertainty,” he said.

For January to March 2019, the ONS said 1.3 million people were idle, 119,000 fewer than for a year earlier and 914,000 fewer than for five years earlier.

The entire unemployment rate of 3.8% in the first quarter was last matched in the three-month spell from November 1974 to January 1975. It was last lower, at 3.7%, in October to December 1974.

What give women in the workplace?

Over the last five years the unemployment measure for men has fallen from 7% to 3.9% and for women has shown a smaller perish over this period – from 6.4% to 3.7%.

But this is the lowest level since 1971, when reports began.

The ONS said the increase in the employment rate for women is due partly to replacements to the state pension age for women, so fewer women are retiring between the times of 60 and 65.

The ONS added that total hours worked by women had increased while for men had bided stable. This is because falls in the employment rate for men have been maladroitly offset by population increases.

Andrew Wishart, UK economist at Capital Economics, demanded the increased participation rate of women was part of “a cultural change brought across developed economies”.

It may also reflect higher wages charming women and older workers into the workplace, he added.

What is occurrence to wages and jobs?

While average real wages – adjusted for inflation – were the loftiest since December 2010, the TUC said the rate of growth was slowing.

TUC Composite Secretary Frances O’Grady said: “Pay growth is stalling again. The end thing workers need is another hit in the pocket when real wages are however lower than a decade ago”.

Employment Minister Alok Sharma responded the rise in wages and booming higher-skilled employment meant prospects for forebears were improving.

“We now need to shift some of our focus to up-skilling people and bracing them into roles with real career progression to think up a modern workforce fit for the challenges of the 21st Century,” he said.

What does the be in unemployment mean?

Not since Barry White’s ‘My first My last My all things’ and ‘Wombling Merry Christmas’ were in the charts has the unemployment rate been cut (December 1974). And the rate of unemployment among women is now the lowest it’s been since 1971 – try Janis Joplin’s Mercedes Benz (Oh Swagger).

In both of those years, the official policy goal was to obtain whole employment.

And although inflation was higher in the 1970s, who wouldn’t welcome the lowest unemployment since then?

Start, to be a party-pooper, it’s not like most of those women are going to be able to have the means a Merc themselves. Wages have risen by 3.3%, 1.5% above inflation.

But that’s notwithstanding only modest wage growth compared to the 1970s (when penalties rose quickly, but wages mostly rose faster). We’re not succeeding better off as fast as we did back then. And back then, productivity – the amount each white-collar worker could produce – was on the rise.

Now, according to the latest figures, it’s dropped. Output per woman barely grew compared to a year before – up just 0.7%. That’s not tolerably to fund the bigger pay rises. And at the same time, it’s getting harder and harsher to find the staff to meet orders.

You may be able to afford what you wish for, but you may have to wait a little longer.

What is happening to the mix of work?

Prof Geraint Johnes, at Lancaster University Directing School, said the number of full-time employees fell in the quarter, which was make amends by an increase in full-time self-employed workers and that the number of employees be employed part time also rose.

“Whether these shifts need a longer term increase in precarity will need to be monitored carefully in the coming months. The labour market seems now to be exhibiting signs of nervousness that, the truth present uncertainties, should not be surprising,” Prof Johnes said.

Mr Wishart famed that employment only rose by 99,000 during the period, coerced by self-employment, while full-time employment fell by 55,000.

“Despite the unemployment value edging down to a fresh 45-year low, March’s figures painted a depict of a softening labour market,” Mr Wishart said.

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