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July 16, 2019UK LABOUR FORCE SURVEY, MARCH TO MAY 2019
The UK Office for National Statistics reported today that the unemployment rate for the three-month period March 2019 to May 2019 was 3.8 per cent, unchanged from the previous three month period. The UK unemployment rate remains at lows not seen since the last three months of 1974. Compared with the period from December 2018 to February 2019, the UK labour force declined by 0.1 per cent while employment increased by 0.1 per cent.
The UK unemployment rate was 4.2 per cent in the same months a year ago. Over the last year, the UK labour force has increased by 0.7 per cent while employment grew by 1.1 per cent
The reduction in the UK unemployment rate observed over the last 5-6 years has resulted from rising employment outpacing the growth in the labour force. A similar trend of employment growth in excess of labour supply growth has been observed in Canada and Nova Scotia as well, but this has been more promounced only in the last 2 years.
Sources: UK Office for National Statistics: Labour Market Overview and Employment, unemployment and economic inactivity;
Statistics Canada Table 14-10-0287-02 Labour force characteristics by age group, monthly, seasonally adjusted
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