The UK labour market remains in rude health, a key support for the household sector. In contrast, US and Chinese retail sales disappointed. Meanwhile, German growth rebounded in early 2019 but the economy remains fragile.
The labour market continues to be a source of positivity amidst the Brexit gloom. Northern Ireland’s employment rate – the proportion of people of 16-64 year olds working – hit a record high of 70.9%. Meanwhile the headline unemployment rate in the three-months to January 2019 is an eye-catching 3.5%. However, amongst the raft of labour market statistics the most meaningful jobs barometer was the Quarterly Employment Survey for Q4 2018. Continue reading
During the three months to November 2018, Northern Ireland’s unemployment rate fell to 3.4%. This compared with 4.1% in the previous quarter and was close to the record low of 3.1% posted in the Q1 2018. Continue reading
2018 was the Chinese year of the dog, but in this part of the world, it will go down as the year of the backstop, when promises around the Irish border came back to bite Theresa May. Indeed, some have said that Brexit as a whole was the one instance when the canine caught the car and then didn’t know what to do with it.
UK workers received a Christmas bonus with the highest wage growth for a decade reported last week. The labour market is yet again the star performer in an economy that is otherwise losing a little momentum.
The EU-UK Withdrawal Agreement was rubber stamped by the EU 27 leaders on Sunday after 20 months of negotiation. Yet the agreement might be entering the most difficult phase of its life as it’s unclear how the legislation will get through Parliament with so many MPs saying they’ll vote against it. Prime Minister Theresa May has vowed to deliver Brexit, the next few weeks should reveal which package arrives.
Today saw a data dump of labour market statistics which revealed more record highs and lows of the positive variety.
The latest NIJobs.com Jobs Report with Ulster Bank was published this week. It shows that the jobs market remains busy, driven by continued inward investment as well as recritment in other areas. Continue reading
The labour market continues to strengthen but wage growth refuses to escape its sluggish trajectory