UK Unemployment Rate Drops Further


In the three months to May 2014, the UK’s jobless rate fell to 6.5 percent from 6.6 percent in the previous period, the lowest since late 2008. While employment continued to rise, pay growth increased less than expected.

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 continued to rise, reaching 73.1 percent for March to May 2014. 

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. There were 8.78 million economically inactive people 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 continued to fall, reaching 21.7 percent for March to May 2014.

The economic inactivity rate last reached 21.7 percent 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 percent higher than a year earlier, with pay excluding bonuses 0.7 percent higher.

UK Unemployment Rate Drops Further


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
7/16/2014 9:48:53 AM