Wednesday, January 18, 2017

UK Unemployment drops 52,000 to 1.6 million

Latest Office for National Statistics (ONS) figures released today show that  UK unemployment fell by 52,000 to 1.6 million in the three months to November.

The employment rate was steady at a record 74.5%, while wage growth picked up pace.
Average earnings increased by 2.8% in the year to November, 0.2% up on the previous month.

2 comments:

Jim said...

but if employment is at 74.5%

to be logical that means that 25.5% or over a quarter of the nation are unemployed does it not?

Unless of course you are refering to those out of working age, as in pentioners and school kids, but even then only 25.5% of those seems low to me.

Chris Whiteside said...

Definitions used are given on the original ONS release page at

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/jan2017#quality-and-methodology

74.5% is the proportion of people aged between 16 and 64 who are in work, but not everyone of that age who isn't in work is seeking it: some are full-time students, some are taking a career break to bring up children and have a partner who is in work. etc.

"Unemployed" means people who are actively seeking work and have not found it.