Employment Down

Labour market overview, UK: June 2020

 

Early indicators for May 2020 suggest that the number of employees in the UK on payrolls is down over 600,000 compared with March 2020. The Claimant Count has continued to rise, enhancements to Universal Credit as part of the UK government’s response to the coronavirus (COVID-19) mean an increase in the number of people eligible.

Labour Force Survey (LFS) data, covering the period up to end of April 2020, show weakening employment rates, with the self-employed and men seeing some reduction in employment. The largest changes are seen in the number of people temporarily away from work, including furloughed workers, which rose by 6 million at the end of March into April, leading to a large fall in hours worked.

  • The UK employment rate in the three months to April 2020 was estimated at 76.4%, 0.3 percentage points higher than a year earlier but 0.1 percentage points down on the previous quarter.
  • The UK unemployment rate for the three months to April 2020 was estimated at 3.9%, 0.1 percentage points higher than a year earlier but largely unchanged on the previous quarter.

No growth in Q4 but better in 2019 as a whole

GDP monthly estimate, UK: December 2019 – ONS

  • UK gross domestic product (GDP) was flat in Quarter 4 (Oct to Dec) 2019
  • Growth in both services and construction was offset by a fall in production, which resulted in 0.0% GDP growth in the three months to December 2019
  • Rolling three-month growth weakened for the third month in a row in December 2019
  • Headline GDP grew by 1.4% in 2019

 

Little change in unemployment

Labour market overview, UK: December 2019 – ONS

Main points for August to October 2019

  • The UK unemployment rate was estimated at 3.8%, 0.3 percentage points lower than a year earlier but largely unchanged on the previous quarter.
  • The UK economic inactivity rate was estimated at 20.8%, 0.2 percentage points lower than a year earlier but largely unchanged on the previous quarter.
  • The UK employment rate was estimated at 76.2%, 0.4 percentage points higher than a year earlier but little changed on the previous quarter; despite just reaching a new record high, the employment rate has been broadly flat over the last few quarters.

Community ownership of vacant shops: can this save the High Street?

Take Back the High Street: Putting communities in charge of their own town centres – Power to Change Report 

Greater community ownership of high street properties could lead to many fewer empty shops, compared to ownership by private-sector interests such as real estate companies and overseas investors.

  • Shops owned by overseas investors are more than twice as likely to be vacant as shops owned by the public sector
  • Real estate companies own one in four of all empty shops, and overseas investors own one in five; whereas the public sector and social sector [2] own around one in ten each
  • Just 8% of units owned by the social sector are vacant, and 4.5% of those owned by the public sector – compared to 9.2% for real estate companies, 9.6% for overseas investors, 11.9% for institutions like pension funds, and 13% for investment management schemes

Unemployment lower than a year ago

Labour market overview, UK: September 2019 – ONS

 

  • The UK unemployment rate was estimated at 3.8%; this is lower than a year earlier (4.0%) and unchanged on the quarter.
  • The UK economic inactivity rate was estimated at 20.8%; this is lower than a year earlier (21.2%) and unchanged on the quarter.
  • The UK employment rate was estimated at 76.1%; this is the joint-highest on record since comparable records began in 1971, and higher than a year earlier (75.5%).