February 15, 2017
UK employment rises to record levels (and productivity is up too) 0
The UK’s employment rate rose to 74.6 per cent in the final three months of last year, the highest rate recorded since data started being collected in 1971, according to the latest figures from the Office for National Statistics published today. The data also showed that UK productivity grew by 0.3 percent in Quarter 4 of 2016, following an increase of 0.4 percent in Q3, and that average earnings were 2.6 per cent higher over the fourth quarter compared with the same period in 2015. The growth in employment is seen to reflect a decline in the proportion of adults who are inactive but not seeking work. The unemployment rate remained at 4.8 per cent, the lowest level since 2005. The number of people in full-time employment rose by 45,000 in the three months to December. This was partly offset by a 7,000 fall in the number of people working part-time.
November 9, 2015
Business success is progressively less related to employment levels 0
by Mark Eltringham • Comment, Technology, Workplace, Workplace design
If you want to understand exactly how the economy has changed over the last few decades, one of the most important statistics is also one of the least remarked upon. It is the growing disconnect between a firm’s earnings and the number of people it employs, a statistic that puts paid to the lie that people are an organisation’s greatest asset. Once upon a time, of course, there was a direct correlation of one sort or another between the a firm’s revenue and the number of people it employed and consequently the amount of space that it took up. This was especially true for the world’s great manufacturers and other industries engaged in what was once proper work; moving, creating, destroying and maintaining things. Growth and success meant more employment and more space. There were economies of scale but the upshot was more or less an arithmetic progression in employment based on earnings.
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