Between September and November the number of those in employment significantly increased when compared to the figure recorded for the period between June and August, which will prove to be encouraging for both women and investors alike, according to industry professionals.
The latest figures from the Office for National Statistics (ONS) UK Labour Market Statistics revealed there were an estimated 32.53 million people in work in the period between September and November 2018, 141,000 more than for June to August 2018, and 328,000 more than for a year earlier.
This statistic marked the employment rate at 75.8 per cent, higher than for a year earlier (75.3 per cent) and the highest percentage since comparable estimates began in 1971.
Commenting on the announcement, Royal London pensions specialist Helen Morrissey highlighted that today’s announcement illustrated the “growing role of women in the workplace”.
The statistics found that the unemployment rate for women is 4 per cent, which is the joint lowest since comparable estimates began.
“We are also seeing more women in full time work while the number of women working part time continues to decrease. Such shifts are good news for women’s long-term financial resilience. For instance we will see more women auto-enrolled into workplace pensions and able to make higher contributions to their pensions,” the Royal London pensions specialist added.
Morrissey suggested that “over time” such shifts will contribute towards the closing of the gender pensions gap and “help women build more sustainable financial futures”.
Furthermore, the statistics should provide “reassurance” for investors and the government “in relation to the strength of the economy” amidst the turbulence and uncertainty created by Brexit, according to The Share Centre investment research analyst Ian Forrest.
“All of this is good news for investors in UK companies as it should help to underpin consumer spending,” Forrest concluded.
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