Employment and Labour Market Statistics Essay

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Analysis of labour market http://www.statistics.gov.uk/hub/labour-market/index.html The uk Labour market statistics are designed to reflect the many aspects of labour market. The Labour market statistics measure many different aspects of work and jobs and provide an understanding into the economy and also to a great extent it is also about the people, including:

•their contribution in the labour force
•the types of work they do
•earnings and benefits they receive
•their working arrangements

The Office for National Statistics (ONS) has produced a framework for labour market statistics and analysis to describe the major concepts that exist within the labour market and their relationship to each other.
The framework is based on the concepts of labour supply and demand. This approach has wide international acceptance, including by the International Labour Organisation (ILO).
The Labour supply consists of individuals, who are employed, unemployed or economically inactive, who can be considered to be potential labour supply.
The Office for National Statistics framework distinguishes between these three categories of worker, and also between the different working arrangements of those in employment such as, employees, the self-employed and those on government schemes such as apprentaship.
Labour demand is represented by employers, who have a need for work to be done, and who offer compensation for this work to the employees who undertake it. This work is grouped by employers to form jobs.
Users and uses
Users of labour market statistics include central and local government, economists, financial analysts, journalists, businesses, trade unions, employer associations, students, teachers, industrial tribunals, academic

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