§ Mr. Alex CarlileTo ask the Secretary of State for Employment what is the total number of redundancies that have been announced by the banking industry in each of the last three years; what is the total work force of the industry for each of the last three years; and if he will make a statement.
§ Miss WiddecombeThe number of redundancies announced by the banking industry alone is not available. However, the labour force survey provides estimates of redundancies that took place in the three months prior to interview for the broad industry group—SIC 8—of banking, finance, insurance, business services and leasing for Great Britain. These are as follows:118W
Redundancies (not seasonally adjusted): Labour force survey Great Britain Spring Number 1991 45,000 1992 34,000 1993 29,000 Figures from the labour force survey of the number of employees employed in banking, finance, insurance, business services and leasing—SIC 8—are shown in the table along with figures for the more specific class of banking and finance—SIC 81.
Numbers of Employees (Not Seasonally Adjusted): Labour Force Survey, Great Britain (SIC 8) (SIC 81) Spring 1991 2,455,000 643,000 Spring 1992 2,356,000 607,000 Spring 1993 2,443,000 625,000 An alternative source of employment estimates is available from the quarterly survey of employers for March of each year. These figures differ from those derived from the LFS in that they are a count of jobs rather than people and also rely on industry classification from the employer rather than from the employee as in the LFS. Estimates from this employer survey source for banking, finance, insurance, business services and leasing—SIC—and the banking and finance industry class—SIC 81—are as follows:
Employees in Employment (Not Seasonally Adjusted): Employer Survey, Great Britain (SIC 8) (SIC 81) March 1991 2,660,100 616,500 March 1992 2,595,800 588,700 March 1993 2,631,600 568,000