Human Resource Management

HRM Guide Updates


UK Unemployment

Labour Market Statistics

August 13 2014 - The unemployment rate stands at 6.4% - down 0.4% on the quarter and 1.4% down over the year. 30.6 million people were in work in April to June 2014 according to the labour force survey (LFS). The number of people employed was 167,000 higher this quarter and 820,000 higher than last year.

The working age employment rate is 73.0% - up 0.3% on the last quarter and up 1.5% over the year.

ILO-defined unemployment in April to June 2014 was 2.08 million (6.4%) - down by 132,000 on the previous quarter and down 437,000 on the same quarter last year.

The claimant count for key out-of-work benefits was 1.01 million in July - down by 33,600 on the previous month and down 420,600 on the year.

Average wages, including bonuses, fell by 0.2% which is consistent with growth in employment being skewed towards lower paid service jobs.

Secretary of State for Work and Pensions Iain Duncan Smith said:

"In the past, many people in our society were written off and trapped in unemployment and welfare dependency. But through our welfare reforms, we are helping people to break that cycle and get back into work.

"The government's long-term economic plan to build a stronger economy and a fairer society is working - with employment going up, record drops in youth unemployment and hundreds of thousands of people replacing their signing-on book with a wage packet.

"This is transformative, not only for these individuals and their families, but for society as a whole. That is why we have set full employment as one of our key targets - bringing security and hope to families who have lost their jobs and others who never had jobs, we put people at the heart of the plan. The best way to help even more people into work is to go on delivering a plan that's creating growth and jobs."

TUC General Secretary Frances O'Grady said:

"The combination of rising employment and falling pay growth suggests the economy is very good at creating low-paid jobs, but struggling to create the better-paid work we need for a fair and sustainable recovery.

"Self-employment has been responsible for almost half of the rise in employment over the last year. The fact that self-employed workers generally earn less than employees means our pay crisis is even deeper than previously thought, as their pay is not recorded in official figures.

"Falling unemployment is always welcome - particularly for young people who are finally starting to find work - but unless the quality of job creation increases Britain's living standards crisis will continue and people will be locked out of the benefits of recovery."



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