Latest estimates sourced from the UK’s Office for National Statistics (ONS) show that the Scotland’s unemployment rate for people aged 16 and over was 4% down — down 0.4 percentage points over the quarter from December 2023 to February 2024.
Scotland’s unemployment rate was below the UK rate of 4.2%.
The estimates for the quarter indicate that unemployment in Scotland decreased, while the employment rate increased and the inactivity rate decreased.
The employment rate — the proportion of people aged 16 to 64 in work — in Scotland was 74.2%, up 0.5 percentage points over the quarter. Scotland’s employment rate was just below the UK rate of 74.5 %.
The economic inactivity rate — the proportion of people aged 16 to 64 years who were not working and not seeking or available to work — in Scotland was 22.6%, down 0.2 percentage points over the quarter. Scotland’s economic inactivity rate was jsut above the UK rate of 22.2%.
Early seasonally adjusted estimates for March 2024 from HMRC Pay As You Earn Real Time Information indicate that there were 2.45 million payrolled employees in Scotland, an increase of 0.5% (12,000) compared with March 2023.
This compares with the UK where the number of payrolled employees had increased by 0.7% over the same period.
Median monthly pay for payrolled employees in Scotland was estimated at £2,389, an increase of 6.3 % compared with March 2023. This is higher than the growth in median monthly pay for the UK over the same period of 5.6%.
Economy Secretary Màiri McAllan said: “The increase of 12,000 in the number of payrolled employees over the year to March 2024 in Scotland is welcome.
“It is also encouraging to note that the median monthly pay for payrolled employees has grown at a faster rate over the year in Scotland than in the UK as a whole – at 6.3% compared with 5.6%.
“However, there are ongoing challenges facing the UK economy, including inflationary pressures and the continuing impacts of Brexit.
“The Scottish Government remains committed to using the limited powers of devolution to support more people into work through employability and skills support – and our forthcoming Green Industrial Strategy will support businesses and investors to realise the era-defining economic opportunities of the global transition to net zero and create well-paid green jobs here.”