UK Job Report (July to September 2014) – 112,000 more employed, 694,000 more than for a year earlier and UR at 6.0%,

A record number of people are currently employed. 

Dr John Philpott, director of The Jobs Economist

This is the most encouraging set of labour market figures for several months, combining a return to strong employment growth (up 112,000 in the quarter) with a sharp fall in unemployment (down 115,000) and average weekly earnings growth of 1.3% (excluding bonuses), just outpacing the 1.2% consumer price inflation rate.

via Unemployment: what the economists say | Business | The Guardian.

Key Points for July to September 2014

• Comparing the estimates for July to September 2014 with those for April to June 2014, employment continued to rise and unemployment continued to fall. These changes maintain the general direction of movement since late 2011/early 2012.
• There were 30.79 million people in work. This was 112,000 more than for April to June 2014 and 694,000 more than for a year earlier.
• The proportion of people aged from 16 to 64 in work (the employment rate), was 73.0%, higher than for April to June 2014 (72.8%) and higher than for a year earlier (71.6%).
• There were 22.52 million people working full-time, 589,000 more than for a year earlier. There were 8.27 million people working part-time, 105,000 more than for a year earlier.
• There were 1.96 million unemployed people, 115,000 fewer than for April to June 2014 and 529,000 fewer than for a year earlier.
• The unemployment rate was 6.0%, lower than for April to June 2014 (6.3%) and lower than for a year earlier (7.6%). 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 9.03 million people aged from 16 to 64 who were out of work and not seeking or available to work (known as economically inactive). This was 38,000 more than for April to June 2014 but 16,000 fewer than for a year earlier.
• The economic inactivity rate was 22.2%, little changed compared to April to June 2014 (22.1%) and compared to a year earlier (22.3%).
• Pay including bonuses for employees in Great Britain was 1.0% higher than a year earlier. Pay excluding bonuses for employees in Great Britain was 1.3% higher than a year earlier.

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