Posted November 02, 2018 06:16:18The bank job vacancy rate fell to 0.8 per cent for the first time in eight years in November, as employers added more than 1 million jobs in the final quarter of 2019, the Bank of England said on Friday.
The Bank of Ireland announced on Thursday that it had created 1.2 million jobs during the final six months of 2019 as it announced a record increase in total employment for the year.
Bank of England Governor Mark Carney said: “This is a record number of new jobs created and this is a good sign for the labour market.”
But the jobs growth we have seen in the past six months is not sustainable.
“It is clear that the pace of growth is slowing down.”
We need to continue to invest in our skills, our education, our infrastructure and in the future we need to invest more in our economy, particularly our skills and the skills of our workforce.
“The Bank also noted that while the unemployment rate has remained unchanged, the number of people looking for work has fallen.
This is the first decrease in the unemployment level since the mid-1990s, when the unemployment figure was 3.5 per cent.””
This suggests that we are seeing a decline in the labour force participation rate, which is the number in employment who are actively looking for a job,” Mr Carney said.
“This is the first decrease in the unemployment level since the mid-1990s, when the unemployment figure was 3.5 per cent.”
That has been an important signal for policymakers.
