People with the highest qualifications are still earning more according to data from the Labour Force Survey carried out by the ONS. The pay gap is lower comparing those educated to GCSE or equivalent with those educated to a higher level in 2010 than in 1993. Employees with a minimum of a degree earned 85% more (95% in 1993), with higher education qualifications (not a degree) earned 45% more (54% in 1993) and those with 'A' level or equivalent 15% more (18% in 1993). The pay gap with those with no formal educational qualifications remained fairly stable at about 20% less than those with GCSEs. The increase in the number of people with degrees has had an impact on the kinds of jobs the group performs and means that they are now more likely to work in lower skilled jobs.
The survey covers people aged between 22-64 as most people have finished their formal education by this time. People with GCSEs increased from 17% to 20% between 1993 and 2010. The percentage of people with a degree increased from 12% in 1993 to 25% in 2010, more than double. The number of people with no formal qualification has fallen from 25% in 1993 to 11% in 2010.
Friday, 26 August 2011
SPPI Up 2.4%
The services producer prices index (net aggregate) rose by 2.4% in Q2 2011 compared with Q2 2010 according to ONS. Growth between Q1 and Q2 2011 was 0.9%.
The biggest price increases contributing to the quarter on previous quarter percentage changes were made by advertising placement and sewerage services with 0.33% and freight transport by road offset by a fall in prices for freight forwarding.
The biggest price increases contributing to the quarter on previous quarter percentage changes were made by advertising placement and sewerage services with 0.33% and freight transport by road offset by a fall in prices for freight forwarding.
Services Output Increased 1.6% Over the Year
The index of services published by the ONS increased by 1.6% in June 2011 compared with June 2010. There was an increase in all components.
The largest contribution was made by business services and finance which rose by 1.6%, its highest increase since October 2010. Hotels and restaurants increased by 3.6%, the highest since February 2008, transport, storage and communication by 3.4% and government and other services by 1.2%.
Output in the services sector fell by 0.1% over the month between May and June 2011. While output grew in hotels and restaurants by 2% and government and other services by 0.2%, it remained as it was in business services and finance and fell by 1.6% in transport, storage and other services and by 0.7% in distribution.
The largest contribution was made by business services and finance which rose by 1.6%, its highest increase since October 2010. Hotels and restaurants increased by 3.6%, the highest since February 2008, transport, storage and communication by 3.4% and government and other services by 1.2%.
Output in the services sector fell by 0.1% over the month between May and June 2011. While output grew in hotels and restaurants by 2% and government and other services by 0.2%, it remained as it was in business services and finance and fell by 1.6% in transport, storage and other services and by 0.7% in distribution.
European INOs Increase 11.1% On 2010
Industrial new orders increased by 11.1% in June 2011 compared with 2010 in the euro area and 8.5% in the EU27 according to a statistical bulletin from Eurostat, the EU statistics office (excluding volatile sectors the index rose by 7.9% in the euro area and 6.3% in the EU27).
In June compared with May however the index fell by 0.7% in the euro area and 0.3%. The volatile sectors such as ships, railway and aerospace equipment can skew the index considerably and when they are excluded new orders fell by 3% in the euro area and 2.2% in the EU27.
In June compared with May however the index fell by 0.7% in the euro area and 0.3%. The volatile sectors such as ships, railway and aerospace equipment can skew the index considerably and when they are excluded new orders fell by 3% in the euro area and 2.2% in the EU27.
OIE Measure Of GDP Up 0.2% In Q2
The chained volume measure of GDP increased by 0.2% in Q2 2011 according to the latest statistical bulleting from the ONS. Output in the construction and services sectors increased by 0.5%. Output in the production industries decreased by 1.6%. Output in Q2 2011 increased by 0.7% compared with Q2 2010. Quarter on quarter percentage growth in output in agriculture fell by 1.3% and total production by 1.6%.
Year on year growth to 2010 in construction increased by 7.1%, the production industries by 2.1% and services by 1.1%. Agriculture fell by 3.5%.
Year on year growth to 2010 in construction increased by 7.1%, the production industries by 2.1% and services by 1.1%. Agriculture fell by 3.5%.
Friday, 5 August 2011
Factory Gate Prices Up 5.9%
The output price index for UK manufactured goods according to the ONS producer price index bulletin for July 2011 increased by 5.9% over the year compared with 5.7% last month. The index for July compared with June rose by 0.2% mainly due to price rises in food and clothing, textiles and leather goods.
The output price index excluding volatile products like food and beverages rose 3.3%. The index excluding excise duty rose 6%.
Input prices rose by 18.5%. Manufacturing excluding food and beverages rose 13.1% over the year to July. Between June and July the total index increased by 0.6% mainly due to price increases for crude oil and other imported materials. The total price of imported materials rose by 1.3% between June and July.
The output price index excluding volatile products like food and beverages rose 3.3%. The index excluding excise duty rose 6%.
Input prices rose by 18.5%. Manufacturing excluding food and beverages rose 13.1% over the year to July. Between June and July the total index increased by 0.6% mainly due to price increases for crude oil and other imported materials. The total price of imported materials rose by 1.3% between June and July.
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