The latest labour market data, jointly produced by the Fraser of Allander Institute (FAI) and the Scottish Centre for Employment Research (SCER), show that on headline indicators like the unemployment and employment rates, the Scottish and UK labour markets have barely been better.
Scotland’s unemployment rate is at 3.2%, a record low since the current series began in 1992. The UK saw its unemployment rate drop to 3.8%, its lowest since 1974.
Yet there is barely anybody who believes that the labour market is really working well for everyone. Economic growth is weak, productivity growth is muted, and wage growth is struggling to outpace inflation. In this latest edition of Labour Market Trends we look in more detail at both the headline indicators but also wider indicators of what is happening in the Scottish labour market.
The report reviews the latest data on who is employed in the UK labour market, what sort of employment they are in, and what is happening to the hours being worked. We also review the latest data on earnings using data from both surveys and also data from the HMRC on income liable for pay-as-you-earn taxation.
The review of the Scottish labour market finishes with a look at the evolving picture of labour productivity, not just for Scotland as a whole, but also for industrial sectors in Scotland. Using the latest ONS data we also look at the pattern of productivity growth across Scotland.
Download the latest Labour Market Trends report.
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