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The employment rate for the three months to March 2010 was 72.0 per cent. The rate was down 0.3 on the quarter and it has not been lower since the three months to September 1996. The number of people in employment fell by 76,000 on the quarter to reach 28.83 million. The number of full-time workers fell by 103,000 over the quarter but the number of part-time workers increased by 27,000. The number of employees and self-employed people working part-time because they could not find a full-time job increased by 25,000 on the quarter to reach 1.07 million, the highest figure since comparable records began in 1992.
What factors of production can affect a construction project
There are four main factors of production that can affect a construction project; they are land, labour, capital costs and an entrepreneur.
Land is defined as ‘land comprises all naturally occurring resources whose supply is inherently fixed’.  Land is a fixed resource as there is a limited amount, and price can vary depending on location. There are four main types of land:
Agricultural land denotes the land suitable for agricultural production, both crops and livestock. 
Brownfield Site/Land are abandoned or underused industrial and commercial facilities available for re-use. Expansion or redevelopment of such a facility may be complicated by real or perceived environmental contaminations. 
A green belt or greenbelt is a policy and land use designation used in land use planning to retain areas of largely undeveloped, wild, or agricultural land surrounding or neighbouring urban areas. 
An Investment land is purchased at ones own desire, he/she may want to sell it in the near future or to give it to someone as a gift.
Land Value = Aggregate Gross Revenues – Total Excepted Costs
Capitalisation RateThe price of land is determined by the use to which it can be put into, however it can vary overtime, but, not only does price change overtime but also interest rates can change very suddenly, and high interest rates tend to put people off in purchasing land. Site values are generally in the range of 20% to 25% of the total cost dwellings, the following formula is used to determine land value:
Land Value is also affected by:
Supply and demand, the supply of land is fixed although it use can always be altered.
The permitted of land use to which it can be put under planning regulations.
The location of the land, the more versatile the land the higher price it has.
Physical characteristics of land may alter the cost of development.
Land is a factor that can immensely affect a construction project as there are many ‘sub-factors’ which can make one bit of land more attractive to the buyer than the other as each type of land has its own advantages and disadvantages. Therefore if the correct decisions are made when purchasing land, it should minimise delays on a construction project.
Labour economics seeks to understand the functioning and dynamics of the market for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. In economics, labour is a measure of the work done by human beings. It is conventionally contrasted with such other factors of production as land and capital. 
The unemployment rate for the three months to March 2010 was 8.0 per cent, up 0.2 on the quarter. The number of unemployed people increased by 53,000 over the quarter, to reach 2.51 million, the highest figure since the three months to December 1994. The number of people unemployed for up to six months fell by 52,000, to reach 1.21 million. However, the number of people unemployed for more than twelve months increased by 94,000 over the quarter to reach 757,000, the highest figure since the three months to May 1997. 
Large construction companies only tend to employ labourers from larger agencies. Due to the fact that agencies are making labourers redundant, therefore there is a fewer number of labourers for construction companies to employ. This can be a large influence on the overall production of a construction.
Capital costs are costs incurred on the purchase of land, buildings, construction and equipment to be used in the production of goods or the rendering of services. In other words, the total cost needed to bring a project to a commercially operable status. However, capital costs are not limited to the initial construction of a factory or other business. For example, the purchase of a new machine that will increase production and last for years is a capital cost.
Capital costs do not include labour costs except for the labour used for construction. Unlike operating, capital costs are one-time expenses, although payment may be spread out over many years in financial reports and tax returns. Capital costs are fixed and are therefore independent of the level of output. 
In the construction industry it is very important to look out for capital costs, as some items may have a high capital, but they may have little return. For example purchasing a crane for a construction project would have a high capital but it is a very efficient plant therefore giving a high return. Thus, looking at capital costs can increase the production of a construction project.
An entrepreneur is a person who comes up with a new idea or invention and brings together a country's resources (land, labour and capital) to take the idea to the marketplace.