European inflation down

European inflation: Eurostat

  • Euro area annual inflation was 2.2% in November 2012, down from 2.5% in October. A year earlier the rate was 3.0%. Monthly inflation was -0.2% in November 2012
  • EU annual inflation was 2.4% in November 2012, down from 2.6% in October. A year earlier the rate was 3.3%.  Monthly inflation was -0.1% in November 2012
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European employment down

European employment: Eurostat

  • The number of persons employed decreased by 0.2% in both the euro area (EA17) and the EU27 in the third quarter of 2012 compared with the previous quarter.
  • In the second quarter of 2012, employment was stable in the euro area and increased by 0.1% in the EU27. These figures are seasonally adjusted.
  • Compared with the same quarter of the previous year, employment fell by 0.7% in the euro area and by 0.5% in the EU27 in the third quarter of 2012 (after -0.7% and -0.3% respectively in the second quarter of 2012).
  • In the third quarter of 2012, 222.6 million men and women were employed in the EU27, of  which 146.0 million were in the euro area

 

Trends for women

Global Employment Trends for Women 2012: ILO

  • Women face higher unemployment rates than men globally, with no improvements likely in the coming years
  • Globally, the gap in unemployment and employment-to-population ratios was moving towards convergence before the crisis. The crisis reversed this trend in the hardest-hit regions.
  • In the advanced countries, the crisis seems to have affected men in trade- dependent sectors more than women in health and education. In developing countries, women were strongly hit in trade-related sectors.
  • In 2012, the share of women in vulnerable employment, (contributing family workers plus own account workers), was 50 per cent and that of men was 48 per cent. But there were much larger gaps in North Africa (24 percentage points), and in the Middle East and Sub-Saharan Africa (15 points).
  • In advanced economies, women’s employment in industry halved, crowding 85 per cent of them into services, primarily in education and health.

Xmas footfall

Footfall monitor: BRC

Week commencing 3 December 2012:

  • Footfall was down in all locations on an annual basis, falling 1.7%.
  • Footfall in shopping centres saw the biggest fall, decreasing 4.9%, followed by high streets and out-of-town locations which fell 0.8% and 0.4% respectively.
  • Footfall on a week-on-week basis increased in all locations, up 2.3%.
  • Footfall in shopping centres saw the biggest rise in footfall up 3.6% on the previous week, followed by high streets (2.2%) and out-of-town locations (0.9%).

Labour Market Statistics, December 2012 : ONS

  • The unemployment rate was 7.8 per cent of the economically active population, down 0.2 on May to July 2012 and down 0.5 on a year earlier. There were 2.51 million unemployed people, down 82,000 on May to July 2012 and down 128,000 on a year earlier
  • The employment rate for those aged from 16 to 64 was 71.2 per cent, up 0.1 on May to July 2012 and up 0.9 on a year earlier. There were 29.60 million people in employment aged 16 and over, up 40,000 on May to July 2012 and up 499,000 on a year earlier.
  • The inactivity rate for those aged from 16 to 64 was 22.6 per cent, up 0.1 on May to July 2012 but down 0.6 on a year earlier. There were 9.07 million economically inactive people aged from 16 to 64, up 60,000 on May to July 2012 but down 249,000 on a year earlier.

Economic crisis leads to huge changes in working practices

 

Global Wage Report 2012-13

  • Large numbers of employees are getting lower wages because they are working fewer hours and doing less overtime.
  • But rather than being a universally negative aspect of the economic crisis, reductions in working hours due to work sharing policies can be seen as a positive development
  • Work sharing is a reduction in working time to avoid lay-offs and it is a measure that helps to stabilize the economy