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Participation in the labor market last year reached a record high 70 percent of the working-age population either working or looking for work. Participation in the labor market has increased the retirement age and increase in participation in further increases gradually Applicable operational reform.
Labour Force Survey, increased participation in the labor market in 2016 8300 people per 691,000-ni. Labor force participation increased the number of employees increase by 0.6 percent. Since all people entered the labor market can not find work immediately, accompanied by an increase in the activity of the growth in unemployment, which reached 6.8 percent in 2016 from 6.2 per cent in 2015. Although the 2016 year as a whole, employment rose, then turned to the low economic activity due to the number of people employed in the second half of the year, and fell into recession in the last quarter of 1200 people, or 0.2 per cent.
2016 ultimately participated actively in the labor market, 691,000 people, which in absolute terms is comparable to that of the previous economic boom, or 2008 levels, although the number of people of working age now has fallen by around 50 000 a year. In addition to the increase in economic activity and the rise in the average wage has had a positive impact on labor market participation of women increase of the retirement age of 63. Today is the retirement age for men and women become equal, and continues to rise in three-month increments general retirement age to 65 by 2026. In addition, the labor force participation increased from last year implemented operational reform, which directs the partial work capacity of people back into the labor market, providing them with the necessary support services. The impact of this reform gradually over the coming years.
For the whole year of 2016, employment increased by 644,600 people, an increase of 0.6 percent compared to the previous year, or 3,700 people. Employment growth was faster than the domestic consumption that relies heavily on trade and the service sector. Employment increased in the structure of part-time work, which was likely behind the decline in production sectors in difficulty. Improved economic growth in the volume of orders and expectations for the coming months, both in the construction industry as well as increasing demand for additional working hands.
Despite the growth of economic activity, have a poor labor market situation is very good - both employment and labor force participation rates are higher historical levels. Low unemployment, wage pressures have resulted in successfully increased the income of employees, but does not significantly reduce the competitiveness of enterprises, since the gains have been large enough buffer.
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