UK Unemployment Rate Down to Nearly 6-Year Low


The UK jobless rate continued to fall, reaching 6.2 percent in the three months to July of 2014, the lowest since late 2008. Yet, employment increased at its slowest pace in more than a year.

In August of 2014, the number of people claiming for unemployment benefits went down by 37,200 from July and fell by 423,600 from a year earlier.

In the period May to July 2014, there were 2.02 million unemployed people, 146,000 fewer than for February to April 2014 and 468,000 fewer than a year earlier. This is the largest annual fall in unemployment since 1988.

There were 30.61 million people in work. This was 74,000 more than for February to April 2014, the smallest quarterly increase since April to June 2013. Comparing May to July 2014 with a year earlier, there were 774,000 more people in work.

The proportion of people aged from 16 to 64 in work, was 73.0 percent, slightly higher than for February to April 2014 (72.9 percent) and higher than for a year earlier (71.6 percent).

There were 8.93 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 114,000 more than for February to April 2014 but 31,000 fewer than for a year earlier. The economic inactivity rate was 22.1 percent, higher than for February to April 2014 (21.8 percent) but lower than for a year earlier (22.3 percent).

Pay including bonuses for employees in Great Britain was 0.6 percent higher than a year earlier. Pay excluding bonuses for employees in Great Britain was 0.7 percent higher than a year earlier.

UK Unemployment Rate Down to Nearly 6-Year Low


ONS | Joana Taborda | joana.taborda@tradingeconomics.com
9/17/2014 9:52:47 AM