Today’s labour market statistics offer some good news, but the relative improvement in the labour market, despite very weak economic growth figures, continues to be somewhat of a puzzle.
Employment increased in the three months to May, while unemployment and inactivity rates both fell.
The increase in employment was driven by increases in full time employment – 73 percent of the increase in employment was accounted for by full time employment.
Previous improvements in employment have been driven by part time work. The number of people working part time because they could not get a full time job remains at a near record high.
The strong increase in full time work suggests that employers are more confident about recruiting and that the current improvement in the labour market may be slightly more sustained than has been the case previously.
Labour market update, latest data:
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