Wednesday 27 March 2013
The bulletin provides a quarterly snapshot of the Guernsey labour market using claimant and contribution data provided by the States of Guernsey Social Security Department.
Dr Andy Sloan, States Economist, said:
"Employment levels fell during the year. The signals from the labour market were of a weakening labour market towards the end of the year, consistent with expectations. That said, it could well be that the corner of the recent cycle has turned. Whilst annualised employment is still falling, its rate of decline is getting smaller. Also, the total numbers of employers increased.
Whilst total employment in the finance sector declined, this masked a divergent performance across sub sectors. Sub sector data (unpublished) demonstrates that once again funds and insurance experienced employment growth and that employment declined in banking and trusts, though the former was not quite sufficient to stop an overall decline in the finance sector employment levels."
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