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(UPDATE) UK – The number of unemployed fell by 65,000, record numbers of pensioners working and youth long-term unemployment at all-time high

For March to May 2012:

  • The employment rate for those aged from 16 to 64 was 70.7 per cent, up 0.3 on the quarter. There were 29.35 million people in employment aged 16 and over, up 181,000 on the quarter.
  • The unemployment rate was 8.1 per cent of the economically active population, down 0.2 on the quarter. There were 2.58 million unemployed people, down 65,000 on the quarter.
  • The inactivity rate for those aged from 16 to 64 was 22.9 per cent, down 0.2 on the quarter.
  • There were 9.21 million economically inactive people aged from 16 to 64, down 61,000 on the quarter…

Employment

Employment measures the number of people in paid work and differs from the number of jobs
because some people have more than one job.

The employment rate for those aged from 16 to 64 was 70.7 per cent in the three months to May 2012, up 0.3 percentage points on the three months to February but unchanged from a year earlier.

The number of people in employment was 29.35 million in the three months to May 2012, up 181,000 from the three months to February and up 75,000 on a year earlier. The number of people in full-time employment was 21.37 million in the three months to May 2012, up 133,000 from the three months to February. Of this total, 13.65 million were men and 7.72 million were women. The number of people in part-time employment was 7.99 million in the three months to May 2012, up 48,000 from the three months to February. Of this total, 2.12 million were men and 5.87 million were women.

The number of people employed in the public sector was 5.90 million in March 2012, down 39,000 from December 2011. The number of people employed in the private sector in March 2012 was 23.38 million, up 205,000 from December 2011. Further information on public sector employment is available in the Public Sector Employment Statistical Bulletin published on 20 June 2012…

Unemployment

Unemployment measures people without a job who have been actively seeking work and are available to start work if a job is offered.

The unemployment rate was 8.1 per cent in the three months to May 2012, down 0.2 percentage points from the three months to February but up 0.4 from a year earlier.

Source: Chart from bbc.co.uk

The number of unemployed people was 2.58 million in the three months to May 2012, down 65,000 from the three months to February but up 132,000 from a year earlier. The number of unemployed men was 1.48 million in the three months to May 2012, down 34,000 from the three months to February. The number of unemployed women was 1.10 million in the three months to May 2012, down 32,000 from the three months to February. The number of people unemployed for over one year was 885,000 in the three months to May 2012, up 3,000 from the three months to February. The number of people unemployed for over two years was 441,000 in the three months to May 2012, up 18,000 from the three months to February.

The unemployment rate for the European Union (EU) was 10.3 per cent of the  economically active population in May 2012. The EU country with the highest  Unemployment rate was Spain, at 24.6 per cent, and the EU country with the lowest unemployment rate was Austria, at 4.1 per cent. The unemployment rate for Japan was 4.4 per cent in May 2012. The unemployment rate for the United States was 8.2 per cent in June 2012…

via Labour Market Statistics, July 2012

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Numbers claiming benefits is on the increase despite LOWEST unemployment rate for a year

Record numbers of pensioners are working, but the number of young people searching for a job for more than six months has also hit an all-time high, official figures revealed yesterday.

The figures highlight the problems facing Britain’s troubled labour market as pensioners are forced to keep on working because of a lack of money, but young people cannot find work.

Nearly one million pensioners have jobs, but nearly 500,000 under-24s want one but cannot find one, according to the Office for National Statistics.

Good and bad: Despite a drop in unemployment the numbers claiming jobseeker’s allowance is up, particularly among women

Neil Duncan-Jordan, from the National Pensioners’ Convention, said: ‘A lot of our members are keen that their grandchildren can get a job.

‘They think the young deserve a chance, but they worry they are not going to get one.

‘As the state pension age rises, we will be making the old work for longer but keeping the young on unemployment benefits, which is a ridiculous way to do things.’

Olympic boost: London jobs market shows an improvement ahead of the Games that has helped boost unemployment figures released today

The ONS said there were 929,000 over-65s working, the largest number since records began 20 years ago. Between March and May, an extra 565 people every day joined Britain’s army of older workers as baby boomers, born after the end of the Second World War, realised they did not want – or could not afford – to stop work.

But the ONS figures highlight chronic problems at the other end of the age spectrum.

The number of young people between the age of 16 and 24 who have been looking for a job for more than six months has jumped by 30 per cent over the past year.

In total, 489,000 young people have fallen into this trap which is also the highest number since records began in 1992.

Paul Brown, director of the youth charity The Prince’s Trust, said: ‘There are now more long-term unemployed young people in the UK than ever before, with hundreds of thousands feeling they will spend their lives on the scrapheap.

‘We need to focus on supporting the most vulnerable young people, who are being pushed to the back of the dole queue.

‘If we invest in young people now, we can save the state billions in benefits and lost productivity.’

The figures come after the Government scrapped the default retirement age last year which means bosses can no longer kick out a worker simply because they have reached 65…

via Numbers claiming benefits is on the increase despite LOWEST unemployment rate for a year | Mail Online.

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U.K. Jobless Rate Hits Nine-Month Low, Defying Recession 

U.K. unemployment fell to a nine- month low in the quarter through May as the London Olympics helped to create jobs, underlining the resilience of the labor market in the face of a recession and Europe’s debt crisis.

The jobless rate based on International Labor Organization methods fell to 8.1 percent from 8.2 percent in the period through April, the Office for National Statistics said today in London. Jobless-benefit claims rose 6,100 in June. The increase, though larger than the 5,000 median forecast in a Bloomberg News Survey, was inflated by a benefit-rule change that took effect May 21.

The strength of the labor market is providing a boost for Prime Minister David Cameron as his government axes hundreds of thousands of state jobs to help cut the budget deficit and struggles to lift the economy out of its second recession since 2009.

“Unemployment has been limited in recent months by an increase in people working part-time, more people becoming self- employed and restrained earnings growth,” said Howard Archer, an economist at IHS Global Insight in London. “The big question is can the labor market remain resilient given the economy’s ongoing weakness.”…

via U.K. Jobless Rate Hits Nine-Month Low, Defying Recession – Bloomberg.

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