Showing posts with label average weekly earnings. Show all posts
Showing posts with label average weekly earnings. Show all posts

Friday, 18 July 2014

Unemployment Down To 2.12m

The unemployment rate continued to fall during March to May 2014 to reach 6.5%, the lowest since October to December 2008. There were 2.12m people unemployed, 121,000 fewer than December 2013 to February 2014.

The employment rate was 73.1% up from 71% on last year but higher than the pre-downturn peak of 73% for 2008. The number of employees increased by 552,000 to reach 25.83m. The number of self-employed people increased by 404,000 to 4.58m. The number of unpaid family workers increased by 13,000 to reach 117,000. The number of people on government supported training and employment schemes fell by 40,000 to 120,000.

Hours worked per week were 987m march to May 2014, up 14.1m from December to February and up 35m on a year earlier. People working full time worked on average 37.6 hours/week, part-time workers worked on average 16 hours/week. There was little change on a year earlier.

There were 33.05m workforce jobs in March 2014, an increase of 380,000 from December and 1.08m on a year earlier. Workforce jobs is a different concept from employment.

Average regular weekly earnings in May 2014 was £449/week and average total pay was £478/week (both before tax and deductions). Regular pay increased 0.7% over the year, total pay increased 0.3% over the year. Consumer inflation over the year to May 2014 was 1.5%.

Claimant Count figures show that for June 2014 there were 1.04m people claiming JSA, down 36,300 from May 2014 and 418,900 on the year. Claimant Count measures the number of people claiming benefits as a direct result of unemployment. Unemployment measures people without a job seeking work in previous four weeks and available to start in two weeks, and those out of work but have found a job and are waiting to start within two weeks.

There were 648,000 vacancies for April to June 2014, up 30,000 from January to March 2014 and 117,000 from last year.

Friday, 16 May 2014

Employment Continues In General Direction Of Last Two Years

The number of people in employment continues to increase according to the latest Labour Market Survey from the ONS.

There were 30.43m people in employment according to estimates for January to March 2014, 283,000 more than October to December 2013 and 722,000 more than a year ago. An increase in the number of self-employed people partly accounts for the increase.

The increase in numbers of people employed approximates to 72.7% of people aged 16 to 64 in January to March from 72.1% for October to December 2013 and 71.4% from a year earlier.

The unemployment rate was 6.8% or 2.21m unemployed people down 133,000 from October to December 2013 and 309,000 from a year earlier.

Average weekly earnings in March 2014 were £449/week for average regular pay and £474/week for average total pay. Total pay has increased by 1.7% over the year to January to March 2014. Regular pay has increased by 1.3% over the same period. CPI increased by 1.6% between March 2013 and March 2014.

There were 628,000 job vacancies for February to April 2014 up from 116,000 a year earlier.