The Economy of Scotland Lags Behind As the Employment Falls

The number of jobless people for Scotland fell by almost 6000 over three months but it had little effect on the economy of the country because it still continues to lag behind the rest of UK. The number of jobless people fell from 124000 to 118000 in Scotland as of the figures are seen from the month of January and March of the current year. In accordance with this the number of employment also fell faintly by 2000 in the ratio to 2.63 million. The rate of employment in Scotland was slightly higher which was at 4.3 % than that of UK which hit the lowest at 4.2%.

According to the latest figures it has become news that productivity of the country which is generally measured by the output per hour worked has fell by almost 1.9% in real terms the previous year. In this regard economists said that the labor market of Scotland was relatively healthy and strong still it has a weak growth which has the chance to hit the wages directly.

The jobless rate was almost about 4.2% while that of Wales was 4.4%. The whole of UK saw a massive fall in the rate of unemployment that is by 46000 to 1.42 million over a fixed period which was recorded by the National Statistics Office. The overall employment rate stood at a rate of 74.7% which is much lower than the 75.6% recorded at UK. The best performing home nation for the unemployment is Northern Ireland which stood at 3.1%.

Employability Minister said that the rise in the rate of employment is welcome news which shows the positive results in economy despite the challenges which came in the economic conditions due to the result of Brexit. The market of the jobs remains strong amidst all the problems faced by the country.

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