Rate falls to 5.5 per 1,000 employees
Redundancy rates: by sex, seasonally adjusted, UK
The total number of redundancies has fallen by 37,000 since 1995, to a rate of 5.5 per 1,000 employees for the three months ending September 2004 on a seasonally adjusted basis.
After peaking in November to January 1999 at 8.7 redundancies per 1,000 employees, redundancy rates have generally declined with the exceptions of a couple of small peaks in December to February 2000 and November to January 2002.
Redundancy rates remain higher for men than for women. In the three months to September 2004 men had a redundancy rate of 6.4 per 1,000 employees compared with a rate of 4.5 per 1,000 for women. For men the redundancy rate has broadly followed the same trend as that for all people, falling fairly steadily since around March to May 2002. For women the general trend has been slightly different as rates fell more steeply over the early part of 2002 and subsequently increased in February to April 2003. The rates for women have fluctuated at around 4 per 1,000 employees since this period.
The manufacturing industry still has the highest rate of redundancies of all the sectors with 31.9 redundancies per 1,000 employees. The redundancy rate in manufacturing shows the greatest amount of movement and has risen slowly in the past year following a sharp drop in September to November 2003. Rates for the banking, finance and insurance sector have increased steadily since 1995 to 18.4 per 1,000 employees, a similar level to those for the distribution, hotels and restaurant sector.
In November 2004, for the first time, redundancy levels and rates are available from the Labour Force Survey on a three-month rolling average basis. These figures have been seasonally adjusted and have also taken into account the latest population estimates.
These new redundancy estimates, combined with new figures on vacancies also published this month, provide a more comprehensive picture on changes in labour demand.