Jobs and earnings
Workforce jobs were up 56,000 over the quarter to 29.23 million in June 2001 and up 165,000 on a year earlier, the latest labour market statistics released by the Government's National Statistics last week show. Over the year to June, production industries workforce jobs were down 139,000 while service sector jobs were up by 291,000. Other industries rose by 13,000. Working age employment rate was 74.6 per cent in May to July 2001, down 0.2 per cent from February to April 2001 and down 0.1 per cent on a year earlier. The overall employment level was 28.16 million in May to July 2001, up 13,000 from February to April 2001 and up 191,000 on a year earlier.

Average earnings in the whole economy increased by 4.6 per cent in the year to July 2001, down 0.1 per cent from the June rate. Manufacturing average earnings were 4.8 per cent higher in July 2001 compared with a year earlier, down 0.2 per cent from the June rate. Service industries average earnings were 4.4 per cent higher in July 2001 compared with a year earlier, 0.2 per cent up from the June rate.
Source: Labour Market Statistics, www.statistics.gov.uk

E-commerce
In 2000, 63 per cent of UK businesses had access to the Internet. This figure varied from region to region though with just 58 per cent of Welsh business having Internet access compared with 70 per cent of South East businesses. According to the Office of National Statistics publication Economic Trends, sales totalling £56 billion were made over the Internet by UK business while purchases of £19.6 billion were made.

Most UK businesses carried out very little of their work over the Internet with just 600 conducting more than 50 per cent of their activity over the Internet. Half of all businesses had their own website and just eight per cent used a broadband connection to the Internet.
Source: Economic Trends, Office of National Statistics

Rental Growth
Latest figures from property adviser GVA Grimley indicate that average rental growth for commercial property in the UK over the next five years will be 2.7 per cent per annum, rather than the 3.7 per cent forecast at the start of 20-01. Prospects for all three commercial sectors – offices, retail and industrial – have been downgraded to reflect the expected impact of weakening economic performance in the US and UK economies.

Grimley's index of prime rents saw annual growth to June for offices at 10.2 per cent compared with 5.3 per cent for industrial and 3.7 per cent for retail property. Office sector growth was led by strong performance in the central London market, although rental growth has recently slowed, with rents increasing by only 3.2 per cent between December and June, compared with 12.2 per cent in the previous six months.
Source: www.gvagrimley.co.uk