Layoffs increased in the third quarter of 2014, reflecting business restructuring. While some increase in layoffs is expected as businesses restructure, unemployment has remained low as the economy continues to create jobs.
Overall employment growth in the third quarter of 2014 (27,100) was largely unchanged from the previous quarter (27,700), though it was lower than a year ago (33,100). This brought total employment to 3,577,000 in September 2014, which was 3.6 percent higher than a year ago but lower than the 3.8 percent in June 2014.
Redundancy rose in the third quarter of 2014, reflecting business restructuring. Some 3,400 workers were made redundant in the third quarter of 2014. This was higher than the 2,410 workers affected in the preceding quarter and 2,710 in the third quarter of 2013. Services sector accounted for slightly more than half of the layoffs in third quarter 2014.