Wednesday, November 11, 2015

Unemployment drops to lowest level since April 2008

The UK unemployment rate fell by 103,000 in the three months to September, which is the lowest rate since April 2008.

There was good news on Long-Term unemployment, and Youth unemployment as well as the overall figures.

There were 31.21 million people in work, 177,000 more than for the April-to-June quarter and 419,000 more than in the same period a year earlier.

Nick Palmer of the Office for National Statistics said: "These figures continue the recent strengthening trend in the labour market, with a new record high in the employment rate and the unemployment rate still at its lowest level since spring 2008."

The number of Long-term unemployed people fell by 25% in the year to September to 514,000 which is the lowest level for six years.

The employment rate among young people who have left full-time education was up in September to its' highest level in ten years - 73.4%.

The number of people classed as economically inactive fell by 22,000, to just under nine million in the latest period, the lowest for more than a year. This figure includes students, those on long-term sick leave, people looking after a relative, and those who are no longer looking for work.

The ONS also said the total earnings of workers, including bonuses, in the three months to September was up 3% from a year earlier. With inflation over the same period at marginally below zero, all pay increases feed through into better living standards.

Still a long way to go, but evidence that the Long Term Economic Plan is working.


Jim said...

Yes the employment figures are looking good, but is that a true reflection of the government?

I would still argue that the driving factor has been a fall in the price of oil. So fuel is now more affordable, the fuel that drives the british economy. Have we seen a significant fall in fuel duty, nope, still nothing.

The long term economic plan is better than that of the labour government, I will give you that hands down, but is the fact empolyment is raising a direct benefit of that? of that bit I am not so sure (though again I will admit its helping)

it seems to me politics is all about black and white, when in reality there are so many shades of grey that affect each and every issue.

Chris Whiteside said...

I am sure that much of the improvement in employment reflects the hard work of the people who have made the effort to find jobs and stay in them, and the businesses who have created those jobs.

Governments should never, ever claim the main credit when jobs are created and the economy succeeds - in my opinion the best and most honest politicians would recognise that the best they can possibly hope for is to help, and that they are doing better than most governments if they manage not to get too badly in the way.

But if employment is growing as fast as it is in the UK, then the government must at least be managing that !!!