Realist, not conformist analysis of the latest financial, business and political news

UK Employment Probably Hasn’t Fallen You Know

Employment in the UK has fallen at its fastest rate in four years amid growing evidence that a slowing economy is taking its toll on the labour market.

Hmm, well, not so fast there.

From the ONS:

The number of people in employment declined by 58,000 to 32.75 million in Quarter 3 (July to Sept) 2019.

Well, OK, but:

The number of part-time workers fell by 164,000 to 8.54 million in Quarter 3 2019, while the number of full-time workers increased by 106,000 to 24.21 million. The decline in part-time workers was driven by women (down 106,000 in the quarter) and the increase in full-time employment by men (up by 93,000 in the quarter).

Well, there is, pretty much, our 60 k odd change in employment.

But a full time job is two part time jobs, no? Roughly enough? So we’d say that the amount of work being done, the amount of employment, went up even while the number of people employed went down?

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