Human Resource Management

HRM Guide Updates

UK Unemployment

Labour Market Statistics

November 12 2014 - The unemployment rate stands at 6.0% - down 0.3% on the quarter and 1.6% down over the year. 30.79 million people were in work in July to September 2014 according to the labour force survey (LFS). The number of people employed was 112,000 higher this quarter and 694,000 higher than last year.

The working age employment rate is 73.0% - up 0.2% on the last quarter and up 1.4% over the year.

ILO-defined unemployment in July to September 2014 was 1.96 million (6.0%) - down by 115,000 on the previous quarter and down 529,000 on the same quarter last year.

The claimant count for key out-of-work benefits was 931,700 in October - down by 20,400 on the previous month and down 373,100 on the year.

Average wages, including bonuses, rose by 1.0% over the year.

Employment Minister Esther McVey said:

"Record numbers of people in work means more people with the security of a regular wage who are better able to support themselves and their families.

"With the vast majority of the rise in employment over the last year being full-time, it's clear that thanks to the government's long-term economic plan, we are helping businesses to create the jobs that people need.

"More young people are getting their foot on the career ladder and we've seen record falls in female unemployment, so as the economy continues to grow, more and more people are having their lives transformed by moving into work"

TUC General Secretary Frances O'Grady said:

"It's good to see an increase in real wages after so many years of falling living standards, but at today's rate of wage growth it would take another twelve years for people's pay to be worth what it was before the recession. And with the recovery looking as if it is already running out of steam, we cannot even be confident of that.

"Huge concerns remain about the quality of many of the jobs being created, and as the Chancellor has found out to his cost many people are not earning enough to pay much tax, if any.

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