Today's labour market statistics show positive news all round:
- ILO unemployment rate down more than expected to 7.4%
- Average weekly earnings growth up to 0.9% (though still below yesterday's inflation rate)
- Manufacturing employment up 0.7% in Q3
The manufacturing number suggests we're now on track to see modest growth in employment in the sector across the whole of 2013.
If this happened this would be the first time we have seen consecutive years of growth in jobs in the sector since the period from 1996 - 1998. In addition, the number of vacancies in the sector has also increased over the last few months, suggesting that employment growth is set to continue. However, if job creation continues to be a pattern across the industry, more companies' will face problems hiring the skilled people they need across a range of occupations.