#hours worked

[notayesmanseconomics]

UK unemployment reaches 5% as employment and wage growth also fall in a toxic mix

This morning has brought some disappointing economic news from my home country the UK as we have reached a threshold we would rather not. The UK unemployment rate for people aged 16 years and over was estimated at 5.0% in July to September 2025. This is up in the latest quarter and above estimates of a year ago. The rise in unemployment is something that I predicted just over a year ago on…

[workstatus-2]

Comparison Table: Billable Hours vs. Non-Billable Hours vs. Hours Worked | Workstatus

Learn more: https://workstatus.io/blog/workforce-management/billable-hours-vs-non-billable-hours/

[notayesmanseconomics]

Recent economic analysis would make the UK Labour Market worse rather than better

Today is UK Labour Market day and there is a tendency to over analyse them I think. Let me give you an example from earlier this year. This was a major report from the Resolution Foundation from February. Economic inactivity among all adults has risen by 830,000 since the start of the pandemic, with more than three-quarters (630,000, or 76 per cent) of this rise being among people aged 50 and…

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[notayesmanseconomics]

The UK Labour Market looks strong but is the cost of living crisis now hitting employment?

This morning’s release has just about brought us to a corner on what turned out to be a road a lot straighter than it looked. A sort of economic equivalent of an optical illusion. In the latest quarter, total actual weekly hours worked increased by 16.3 million hours to 1.05 billion hours in January to March 2023. This is 0.2 million hours below pre-coronavirus pandemic levels (December 2019 to…

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[notayesmanseconomics]

UK Employment and hours worked improve as inactivity drops

A feature of the UK economy these days is that work tends to be available even after economic shocks. There is a caveat that I will come to, but this morning the employment data was pretty strong. The UK employment rate was estimated at 75.8% in December 2022 to February 2023, 0.2 percentage points higher than September to November 2022. The increase in employment over the latest three-month…

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[notayesmanseconomics]

UK Wage growth is a record on the up (nominal) but also down (real wages)

This morning has brought us up to date on the official view on the UK labour market and we can start with something positive. The most timely estimate of payrolled employees for December 2022 shows another monthly increase, up 28,000 on the revised November 2022 figures, to 29.9 million. Although care is needed because November’s strong growth was revised lower meaning we are pretty much where we…

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[notayesmanseconomics]

UK Real Wage falls confirm again that we are in stagflation territory.

UK Real Wage falls confirm again that we are in stagflation territory.

Today we have been brought up to date with the state of play in the UK labour market and let us start with the issue of wages. In isolation the position looks strong. Growth in average total pay (including bonuses) was 6.0% and growth in regular pay (excluding bonuses) was 5.7% among employees in July to September 2022; this is the strongest growth in regular pay seen outside of the coronavirus…

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