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UK Unemployment

Labour Market Statistics

July 16 2014 - The unemployment rate stands at 6.5% - down 0.4% on the quarter and 1.3% down over the year. 30.64 million people were in work in March to May 2014 according to the labour force survey (LFS). The number of people employed was 254,000 higher this quarter and 929,000 higher than last year.

The working age employment rate is 73.1% - up 0.5% on the last quarter and up 1.7% over the year.

ILO-defined unemployment in March to May 2014 was 2.12 million (6.5%) - down by 121,000 on the previous quarter and down 383,000 on the same quarter last year.

The claimant count for key out-of-work benefits was 1.04 million in June - down by 36,300 on the previous month and down 418,900 on the year.

Earnings growth over the year in terms of weekly pay to May 2014 (including bonuses) was 0.3%.

Minister for Employment Esther McVey said:

"An important milestone has been reached in our country's recovery. With one of the highest employment rates ever, it's clear that the government's long-term economic plan to help businesses create jobs and get people working again is the right one.

"With an employment rate which has never been higher, record women in work and more young people in jobs, the resilience of the country during the downturn is being rewarded. We know there is more to do, and the best way to do so is to go on delivering a plan that's creating growth and jobs."

Mark Beatson, CIPD chief economist commented:

"This latest set of statistics highlight a continuation of the recent pattern of strong employment growth, especially for young people, and very low pay growth. However, with the growth in employment driven by self-employed people, especially among the part-time self-employed, this period might herald a modest slowdown in hiring activity compared with the recent past.

"The latest wage growth figures could be an unusually low one-off but, even if they are, they remind us that there are no signs of pay pressures building up in the official figures. This should not come as a surprise when labour productivity growth is flat and when the government's welfare reforms, the availability of EU migrants and the latent supply from the under-employed mean we have strong growth in labour supply. It is very difficult to see therefore where the pick-up in wages growth will come from."



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