UK Employment and Market Statistics to Know in 2015

LLJ_employment_statsUK employment statistics are never far from the minds of the British public. As the next election draws near, recent figures will be key for many voters in the polling booths on 7 May. As advocates for UK growth and enterprise, the team at LoveLocalJob.com take a keen interest in the latest employment news to hit the headlines. Here are the latest employment and market statistics in the UK.

Current employment figures

  • Britain’s current unemployment figure of 5.6% is the lowest since 2008
  • Those in self-employment rose to a 40 year high in 2014
  • Office for National Statistics figures claim that 163,275 registered businesses were created between March 2010 and 2014. 707,200 unregistered, self-employed businesses were created in the same time frame.
  • For every 12 jobs created in the south of England since 2004, one has been created across the rest of England, according to the Centre for Cities think tank
  • Two towns now have fewer businesses since 2004: Grimsby and Blackpool
  • Employed EU nationals living in the UK increased by 269,000 in October to December 2014 compared with the same time frame in 2013
  • In the three months to February 2015, the UK employment rate rose to the highest rate since records began in 1971 to 73.4%.

Pay statistics

  • The UK adult national minimum wage currently stands at £6.50 an hour, which is to rise to £6.70 an hour from October 2015. The 3% increase will represent the biggest real-terms rise in seven years
  • The current apprentice minimum wage stands at £2.73, which will also rise by 20% to £3.30 an hour from October 2015
  • According to the Office for National Statistics, average wages have grown at an annual rate of 1.6% from October 2014 to January 2015, excluding bonuses. This figure increases to 2.1% when bonuses are included.
  • By 2018, wages are predicted to grow by around 3.7% – 0.7% below the pre-crash average
  • Figures by the end of 2014 revealed that Londoners earn an average of £10,000 more than workers in other major UK cities
  • Average pay peaks in inner London at £34,473, with workers in the City of London earning most (£51,952) followed by Tower Hamlets (£44,380) and Copeland (£37,699)
  • Figures in March 2015 revealed that the UK has the sixth-largest male-female pay gap in the EU, with average earnings for women 16.4% below their male counterparts
  • British wages are set to rise above inflation in 2015 – the first time in eight years.

Industry figures

  • The UK continues to have the lowest corporate tax rate in the G7
  • The World Travel & Tourism Council (WTTC) places the UK as the fifth largest travel and tourism industry behind the US, China, Germany and Japan
  • Construction industry output decreased by 2.6% in January 2015 compared to statistics from December 2014
  • Businesses with no employees (self-employed) account for 76% of the private sector
  • The Office for Budget Responsibility has stated that household consumption is expected to add the greatest contribution to growth in 2015, followed by business investment and housing
  • Labour productivity statistics by the end of 2014 Q3 revealed that it remained 2% below the pre-recession peak in 2008
  • Industry growth between January 2014 and December 2015 is expected to increase by 7.3%
  • By 2014, 2,350 UK businesses classed themselves as ‘automotive’ suppliers with a workforce of approximately 82,000 people
  • Workers in the UK technology industry have increased by 66% during the past decade to one million: representing 3.4% of the UK’s total workforce
  • The NHS remains the largest employer in Europe with a workforce of 1.3 million people.

Apprenticeships data

  • 1 in 10 employers in the UK offer apprenticeships
  • Female apprentices outnumber male apprentices by 10%: 55% to 45%
  • 90% of apprentices remain in employment once the duration of the apprenticeship has finished
  • 170 industries now offer apprenticeship positions. In 2014, health and social care vacancies were cited as the most popular
  • 248,700 apprenticeship starts were recorded by the end of January 2015 during the 2014/15 academic year
  • By January 2015, figures revealed that there has been a dramatic increase in apprenticeship starts amongst the older generations. Workers over 60 taking on an apprenticeship has risen by 715% since 2009/10, while 45-59-year-old apprentices has risen by 522%.

 


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