Fall in unemployment

UK labour market: Jan 2017 – ONS

  • There were 1.60 million unemployed people (people not in work but seeking and available to work), 52,000 fewer than for June to August 2016 and 81,000 fewer than for a year earlier.
  • There were 883,000 unemployed men, 8,000 fewer than for June to August 2016 and 41,000 fewer than for a year earlier.
  • There were 721,000 unemployed women, 44,000 fewer than for June to August 2016 and 40,000 fewer than for a year earlier.
  • The unemployment rate was 4.8%, down from 5.1% for a year earlier. It has not been lower since July to September 2005.
  • There were 8.89 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 85,000 more than for June to August 2016 but 63,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.7%, higher than for June to August 2016 (21.5%) but lower than for a year earlier (21.9%).
  • There were 31.80 million people in work, little changed compared with June to August 2016 but 294,000 more than for a year earlier.
  • There were 23.25 million people working full-time, 209,000 more than for a year earlier. There were 8.55 million people working part-time, 86,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.5%, virtually unchanged compared with June to August 2016 but higher than for a year earlier (74.0%).

Inflation up to 1.6%

UK consumer price inflation: Dec 2016 – ONS

  • The Consumer Prices Index (CPI) rose by 1.6% in the year to December 2016, compared with a 1.2% rise in the year to November.
  • The rate in December was the highest since July 2014, when it was also 1.6%.
  • Price movements for the majority of the broad groups of goods and services acted to increase the rate between November 2016 and December 2016.
  • The main contributors to the increase in the rate were rises in air fares and the price of food, along with prices for motor fuels, which fell by less than they did a year ago.

Unemployment falling

UK labour market statistics: Dec 2016 – ONS

  • There were 1.62 million unemployed people (people not in work but seeking and available to work), 16,000 fewer than for May to July 2016 and 103,000 fewer than for a year earlier.
  • There were 888,000 unemployed men, 13,000 fewer than for May to July 2016 and 53,000 fewer than for a year earlier.
  • There were 728,000 unemployed women, little changed compared with May to July 2016 but 49,000 fewer than for a year earlier.
  • The unemployment rate was 4.8%, down from 5.2% for a year earlier. It has not been lower since July to September 2005.
  • There were 8.91 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 76,000 more than for May to July 2016 but 56,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.7%, higher than for May to July 2016 (21.5%) but lower than for a year earlier (21.9%).
  • There were 31.76 million people in work, little changed compared with May to July 2016 but 342,000 more than for a year earlier.
  • There were 23.20 million people working full-time, 235,000 more than for a year earlier. There were 8.56 million people working part-time, 107,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.4%, slightly down from the joint record high of 74.5% recorded for May to July 2016 but higher than for a year earlier (73.9%).

UK consumer price inflation rises

UK consumer price inflation: Nov 2016

  • The Consumer Prices Index (CPI) rose by 1.2% in the year to November 2016, compared with a 0.9% rise in the year to October.
  • The rate in November was the highest since October 2014, when it was 1.3%.
  • Rises in the prices of clothing, motor fuels and a variety of recreational and cultural goods and services, most notably data processing equipment, were the main contributors to the increase in the rate.
  • These upward pressures were partially offset by falls in air and sea fares.

UK unemployment falling

UK labour market: Nov 2016 – ONS

  • There were 1.60 million unemployed people (people not in work but seeking and available to work), 37,000 fewer than for April to June 2016 and 146,000 fewer than for a year earlier.
  • There were 876,000 unemployed men, 15,000 fewer than for April to June 2016 and 82,000 fewer than for a year earlier.
  • There were 728,000 unemployed women, 22,000 fewer than for April to June 2016 and 64,000 fewer than for a year earlier.
  • The unemployment rate was 4.8%, down from 5.3% for a year earlier and the lowest since July to September 2005.
  • There were 8.89 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 49,000 more than for April to June 2016 but 103,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.7%, down from 22.0% for a year earlier.
  • There were 31.80 million people in work, 49,000 more than for April to June 2016 and 461,000 more than for a year earlier.
  • There were 23.24 million people working full-time, 350,000 more than for a year earlier. There were 8.56 million people working part-time, 110,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.5%, the joint highest since comparable records began in 1971.

 

UK inflation: slight fall

UK consumer price inflation: Oct 2016 – ONS

  • The Consumer Prices Index (CPI) rose by 0.9% in the year to October 2016, compared with a 1.0% rise in the year to September.
  • Although the rate was slightly lower than in September 2016, it remained higher than the rates otherwise seen since late 2014.
  • The main downward contributors to the change in the rate were prices for clothing and university tuition fees, which rose by less than they did a year ago, along with falling prices for certain games and toys, overnight hotel stays and non-alcoholic beverages.
  • These downward pressures were offset by rising prices for motor fuels, and by prices for furniture and furnishings, which fell by less than they did a year ago.

Growth at 0.5% in Q3

Gross Domestic Product, preliminary estimate: July to Sept 2016 – ONS

  • Change in gross domestic product (GDP) is the main indicator of economic growth. GDP was estimated to have increased by 0.5% in Quarter 3 (July to Sept) 2016 compared with growth of 0.7% in Quarter 2 (Apr to June) 2016. GDP was 2.3% higher in Quarter 3 2016 compared with the same quarter a year ago.
  • In Quarter 3 2016, the services industries increased by 0.8%. In contrast, output decreased in the other 3 main industrial groups with construction decreasing by 1.4%, agriculture decreasing by 0.7% and production decreasing by 0.4%, within which manufacturing decreased by 1.0%.