mpc.theyserveforyou.com

mpc: 9 had fallen by 0.3 percentage points to 5.3%. The claimant count had fallen by 48,300 over the same period, and by a further 18,000 in August. As in Q2, the fall in LFS unemployment had largely been accounted for by a decline in short-term unemployment. A35 Inactivity had risen by 46,000 in the three months to July compared with the previous three months, reflecting a 87,000 rise in male inactivity. The inactivity rate had remained at 21% of the population of working age. A36 The official National Statistics measure of productivity, based on Workforce Jobs, had increased by 2.5% in the year to Q2, compared with an increase of 2.1% in Q1. An alternative measure based on LFS employment had increased by 1.7%, unchanged from Q1. Productivity per hour had increased by 2.5% in the year to Q2, falling from 3.1% in Q1. A37 Headline earnings growth, a three-month moving average of the annual growth rates, had fallen by 0.2 percentage points to 3.9% in July. Headline private sector earnings growth had fallen by 0.2 percentage points to 4.0%, while headline public sector earnings growth had fallen by 0.3 percentage points to 3.4%. Headline earnings growth in the manufacturing sector had remained unchanged at 4.7% for the third consecutive month. Headline earnings growth in private sector services had fallen by 0.4 percentage points to 3.5%. A38 Actual earnings growth had been 3.8% in July, unchanged from June. Growth in regular pay, ie excluding bonuses, had also remained unchanged at 4.4% (not seasonally adjusted). Bonuses had reduced earnings growth by 0.8 percentage points (not seasonally adjusted), the third successive negative contribution to actual earnings growth. The Bank's estimate of growth in earnings per hour, based on a smoothed hours series, had fallen by 0.3 percentage points to 4.8% in July. A39 The annual growth of wages and salaries per head, calculated from the National Accounts, had fallen from 4.8% in Q1 to 3.6% in Q2, broadly in line with movements in the AEI over this period. Annual growth of the real product wage had exceeded that of the real consumption wage in Q2 for the first time since 1999 Q1. Largely reflecting the fall in the growth of wages and salaries,