Hours worked

Muscat Daily - - BUSINESS -

While the job gain in July was lower than the av­er­age over the pre­vi­ous few months, the num- bers show a healthy labour mar­ket.

The bulk of the gains over the past year have been full-time, with 353,500 jobs. In July, the econ­omy cre­ated 35,100 full­time jobs while drop­ping 24,300 part-time jobs The full-time job gains means the to­tal num­ber of hours worked - a key de­ter­mi­nant of in­come - are also ac­cel­er­at­ing. To­tal ac­tual hours worked were up 1.9 per cent in July from a year ear­lier, the fastest year-over-year gain since Au­gust 2015

Wages con­tinue to rise at his­tor­i­cally low lev­els, which con­tin­ues to be the main wrin­kle in the coun­try’s labour mar­ket. The pace of an­nual wage rate in­creases was un­changed at 1.3 per cent in July. That’s still bet­ter than the record low 0.7 per cent in April

The de­cline in the job­less rate was also due in part to a lower par­tic­i­pa­tion rate, which fell to 65.7 per cent, from 65.9 per cent, as peo­ple left the labour force.

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