In the News

UK – To the record rate of employment set in 2005 says rime Minister David Cameron

Prime Minister David Cameron said this was now equal to the record rate of employment set in 2005.

“Today’s figures show more people have the security of a job than ever before. Full employment is a key aim of our long-term economic plan,” he said.

via BBC News – UK unemployment falls to six year low of 2.12m.

Key Points for March to May 2014

  • Comparing the estimates for March to May 2014 with those for December 2013 to February 2014, employment continued to rise and unemployment continued to fall. These changes continue the general direction of movement over the past two years.
  • There were 30.64 million people in work, 254,000 more than for December 2013 to February 2014 and 929,000 more than a year earlier.
  • The proportion of people aged from 16 to 64 in work (the employment rate) continued to rise, reaching 73.1% for March to May 2014. The employment rate last reached 73.1% in December 2004 to February 2005 and, since records began in 1971, it has never been higher.
  • There were 2.12 million unemployed people, 121,000 fewer than for December 2013 to February 2014 and 383,000 fewer than a year earlier.
  • The unemployment rate continued to fall, reaching 6.5% for March to May 2014, the lowest since October to December 2008. The unemployment rate is the proportion of the economically active population (those in work plus those seeking and available to work) who were unemployed.
  • There were 8.78 million economically inactive people (those out of work but not seeking or available to work) aged from 16 to 64. This was 67,000 fewer than for December 2013 to February 2014 and 258,000 fewer than a year earlier.
  • The proportion of people aged from 16 to 64 who were out of work but not seeking or available to work (known as the economic inactivity rate) continued to fall, reaching 21.7% for March to May 2014. The economic inactivity rate last reached 21.7% in July to September 1990 and, since records began in 1971, it has never been lower.
  • Pay including bonuses for employees in Great Britain for March to May 2014 was 0.3% higher than a year earlier, with pay excluding bonuses 0.7% higher.

Capture d’écran 2014-07-17 à 08.48.54

Chosen excerpts by Job Market Monitor. Read the whole story at  UK Labour Market, July 2014 – ONS.

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