Unemployment has risen across the South West – but wages are going up too.
Latest figures from Jobcentre Plus reveal there are 75,973 in what is called the Alternative Claimant Count (ACC), which means people on the new Universal Credit benefit are counted even though they may be earning from some part-time work.
This figure is, however, up by 3,475 from the same time in 2018, a 5% jump. But Jobcentre Plus bosses say it could be because of the change in the way the claimant total is totted up.
And they point to the long-term picture, with the claimant total being 25% down on five years previously, that’s 25,515 fewer claimants.
Nationally, the ACC is up too, a 3% year-on-year rise to 1,255,674 - but still 26% lower than in 2014.
The Office for National Statistics reports that in the past month the jobless rate rose to 3.9%, up by 0.1%, but remaining low historically, with 1.33million classed as unemployed.
And indeed, employment has increased by 115,000 to a record high of 32.81million.
In Plymouth there is an ACC of 5,837, up 5% year-on-year, but still 20% lower than the 2014 figure.
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However, Nicky Keast, employer adviser manager at Jobcentre Plus in Plymouth, said there are lots of jobs unfilled.
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She found 625 available Plymouth jobs on the Government’s Find a Job website. Including 199 health care posts, 54 in various teaching and training positions, and 29 in the construction trades.
The website of major jobs agency Indeed, recorded 1,389 jobs available in the Plymouth area.
“The labour market is buoyant,” Mrs Keast said.
Meanwhile, wage growth has also hit an 11-year high, with basic pay having grown by 3.9% between April and June 2019.
That was a rise from 3.6% in the previous accounting period, representing the biggest jump in pay since 2008.
Secretary of State for Work and Pensions and Minister for Women and Equalities Amber Rudd said:“More people in work than ever before means more households across the 海角视频 are earning a regular income, and millions more receiving a pay boost thanks to wages rising at their fastest in a decade – outstripping inflation for a 17th month in a row.
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“Our workforce increasingly reflects our vibrant society, with a record number of women in employment while the number out of work falls to an all-time low.”
Pawel Adrjan, 海角视频 economist Indeed, said: “Unemployment has risen, but for those in work, pay packets are swelling nicely - average wages are rising at their fastest level for more than a decade.
“The increase in unemployment is a case of economic gravity finally reasserting itself as Britain’s job creation boom slows.
“The total number of vacancies continues to slide further from the peak it reached at the start of the year, suggesting more employers are holding off on hiring.
“Our analysis shows total vacancies rose in only two out of 12 employment sectors - education and health and social work - with all the others seeing a fall.
“Yet for all that, the labour market is one of the few parts of the economy to have largely shrugged off the growth-sapping uncertainty that has stymied progress elsewhere.
“The total employment rate has improved, rising back up to the joint-record high it achieved earlier this year.
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Business Live's South West Business Reporter is William Telford. William has more than a decade's experience reporting on the business scene in Plymouth and the South West. He is based in Plymouth but covers the entire region.
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“And there is more good news for those who already have a job. Average wages continue to march upwards at their highest rate since August 2008 as employers fight for recruits by offering ever more competitive salaries.
“This is far from a perfect jobs report. Employer caution is limiting the supply of new vacancies, yet stiff competition for recruits is still driving up wages. Given the wider slowdown in the economy, the labour market is holding up surprisingly well. But continued falls in vacancies suggest employers are mindful of the broader economic and political risks on the horizon.”
But Neil Foster, national research and policy officer for the GMB union, said: "The rising unemployment figures add to the perilous state of the 海角视频 economy – jobs are being lost, the value of the pound is falling, our economy is contracting and the risk of recession grows every day. More and more people are worried about their livelihoods and their future.”
He added: “The rise in unemployment today would be a drop in the ocean compared to the economic destruction of crashing out of the EU with no deal.”