mpc.theyserveforyou.com

mpc: 8 September. And construction new orders in the three months to August had risen by 22% on the previous three months (compared with quarterly growth of 11.2% in Q2). In the CBI Monthly Trends Survey, output expectations had picked up to +5 in September from +2 in August. The National Institute of Economic and Social Research's estimate of GDP growth in the three months to August had been 0.8%.

IV

The labour market

A31 The Labour Force Survey (LFS) measure of employment had risen by 93,000 (0.3%) in the three months to July compared with the previous three months, slightly weaker growth than in the three months to April (0.4%) and in Q2 (0.4%). The rise in LFS employment had mainly reflected an increase in part-time employment (57,000), which had raised the part-time share slightly to 25.0%. Workforce Jobs (a more volatile series, which is sampled on a single day in each quarter) had increased by 59,000 in Q2, compared with a fall of 10,000 in Q1. A32 Average hours worked had increased by 0.1% in the three months to July. Both full-time and part-time average hours had increased, but there had been a decline in hours devoted to second jobs. Total hours worked had increased by 0.4% in the three months to July. A33 The CIPS construction and services employment growth balances had both suggested continued employment growth in September, though at a reduced rate for construction with a sharp drop in the index on the month, while the balance for manufacturing had suggested a continued decline in employment. The Recruitment and Employment Confederation (REC) had reported a fall in the availability of temporary staff in September. The CBI/Deloitte & Touche service sector survey had suggested slightly greater recruiting difficulties in the business and professional services category. By contrast, the Bank's regional Agents had reported that skill shortages had not deteriorated further. A34 LFS unemployment had fallen by 104,000 in the three months to July compared with the previous three months, slightly greater than the fall of 91,000 in Q2. The LFS unemployment rate