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16 August 2017

Top three tips for understanding jobs figures

The Office for National Statistics (ONS) published new jobs figures for Scotland.

Here’s three key charts to guide you through the stormy statistical waters.

1. The number of people in work reaches record levels

There are now 2.65m people working in Scotland. During 2017, employment levels increased 1.1% to 75.2%. Compared with this time last year, there are 30,000 more people in jobs.

 ONS August

2. Unemployment levels drop to 3.9%

Unemployment decreased by 13,000 in the three months to June 2017. Scotland is reducing its jobless rate (0.5% in a quarter) at a rapid pace and is second only to London (0.6%), which is great news for the economy. 

 Unemployment Aug

3. One in three new jobs are created by smaller businesses

Despite subdued business confidence and squeezed profit margins, smaller firms are continuing to take on new staff.

Of the 30,000 jobs created between 2016 and 2017, small businesses have created around one in three of the jobs (9,991) – meaning that they now employ nearly one million people. 

         SBI 2017 Q2 Headcount

 

Barry McCulloch is FSB's Senior Policy Advisor 

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