Here’s a Monday look ahead at the data and events relating to UK manufacturing.
Labour market statistics
On Wednesday, the ONS will release its labour market statistics data. After the pace of improvement in the labour market had started to slow, last month saw the first increase in unemployment for nearly two years. In contrast, pay growth picked up again, with average weekly earnings growing by 3.2% in the three months to May compared with a year earlier.
Unemployment is unlikely to continue to rise over the course of the year, as UK economic growth remains strong. However, a slowing in labour market gains, combined with stronger wage growth, looks set to continue as the labour market tightens. This was a key assumption underpinning the Bank of England’s Inflation Report, published last week.
On Thursday young people up and down the country will receive their A-level results. Last year we saw a slight fall in the number of young people achieving A or B grades in maths and the sciences, but of increasing concern was the gap between the number of females taking these key subjects compared with their male counterparts. Read last year’s blog here.
Migration Advisory Committee (MAC)
On Thursday the MAC will report on whether the government should increase the minimum salary thresholds which employers must pay for individual job roles when recruiting an employee from outside of Europe. It is currently at the 25th percentile but the Government has asked the MAC to look at increasing it to the 50th or 75th percentile. Read our submission here.
- New team member Megha blogs about five things she’s learnt about manufacturing
- A closer look at labour market statistics
- Progress with A level results