Labour market update November 2012

Labour market update November 2012
Document type
Report
Corporate author(s)
Confederation of British Industry
Publisher
CBI
Date of publication
1 November 2012
Series
Labour Market Update. November 2012
Subject(s)
Trends: economic, social and technology trends affecting business, People management: all aspects of managing people
Collection
Business and management
Material type
Reports

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The monthly CBI Labour market update monitors changes in the labour market, which is critical to business given employment levels provide an important indication of the level and growth of economic activity.

The November 2012 issue shows that more people are in work but the job creation rate is slowing. Key points include:

  • Employment continues to grow, but the pace of employment growth has slowed, with London contributing significantly fewer jobs than earlier this summer. Employment rose by 100,000 in the three months to September compared with the preceding three months.
  • Unemployment continues to fall, but surprisingly the more up-to-date Claimant Count increased. Unemployment fell by 49,000 in the three months to September, while the number of people claiming Jobseekers’ Allowance rose by 10,100.
  • The fact that fewer people exited inactivity than last quarter and growth in average weekly earnings remains subdued also indicates that the pace of recovery in the labour market might be slowing. However, at the same time, fewer people are being made redundant, youth unemployment has dropped significantly and full-time employment continues to grow.

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