A startling statistic for any economy that only 1 in 4 (16-74 year olds) is working fulltime. The future for the UK seems to be a move from fulltime employment to part-time, temporary or simply unemployment. Certainly not encouraging.

45% of all those currently in work don’t have full time permanent jobs, according to this month’s ONS labour market data .

While that 45% number reflects a reality in the UK Labour market highlighted by The Slog in previous posts, the cumulative result of adding up all the anomolies of our economy’s inability to employ people paints a very bleak long-term picture indeed.

The ONS also tells us that 22.4% of adults aged 16-64 are economically inactive. So that doesn’t include the retired…although of course some of them will be in the 45% of part-timers – thanks to the last fifteen years of Westminster policy shrinking their pension values.

But let’s start from one simple assumption: that very few people over 75 beyond Rupert Murdoch are still working. That’s 9.2% of all adults….but generously leaving out the 6.5% aged 65-74 entirely.

The aggregate comes to a staggering 76.6% not in a full time job. Only one adult in four – at the most – enjoys full-time employment in the United Kingdom.

For the life of me, I cannot understand why the statisticians are scratching their heads, and asking why unemployment is static or falling in the deepest recession for eighty years. The simple reality is that employment is changing: from long-contract, full-time career work to zero contract, short-hours part time or freelance work.

Source: The Slog

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