mpc: 17 Consistent with the evidence of a pickup in growth, there had been some signs of an increase in
the demand for labour. The Labour Force Survey (LFS) measure of employment had risen a little in
the three months to February and the available private sector surveys, together with evidence gathered
by the Bank's regional Agents, pointed to a further increase in labour demand going forward.
Nevertheless, the unemployment rate had also increased slightly as the number of people actively
looking for work had risen, thereby swelling the labour force. Taking a longer-term perspective, there
had been a notable increase in the participation and employment rates among the over-50 year old age
cohort.
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