Unemployment falling

UK Labour Market: August 2016 – ONS

Main points for April to June 2016

  • There were 1.64 million unemployed people (people not in work but seeking and available to work), 52,000 fewer than for January to March 2016, 207,000 fewer than for a year earlier and the lowest since March to May 2008.
  • There were 890,000 unemployed men, 124,000 fewer than for a year earlier. There were 750,000 unemployed women, 84,000 fewer than for a year earlier.
  • The unemployment rate was 4.9%, down from 5.6% for a year earlier. The last time it was lower was for July to September 2005. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.
  • Between January to March 2016 and April to June 2016, the number of people in work increased. The number of unemployed people and the number of people not working and not seeking or available to work (economically inactive) fell.
  • There were 31.75 million people in work, 172,000 more than for January to March 2016 and 606,000 more than for a year earlier.
  • There were 23.22 million people working full-time, 374,000 more than for a year earlier. There were 8.53 million people working part-time, 231,000 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 highest since comparable records began in 1971)
  • There were 8.84 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 58,000 fewer than for January to March 2016 and 179,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.6%, the joint lowest since comparable records began in 1971.

CPI rose by 0.6%

Consumer price inflation: July 2016

  • The reporting period for this release covers the calendar month of July 2016, therefore, the data refers to the period after the EU referendum.
  • The Consumer Prices Index (CPI) rose by 0.6% in the year to July 2016, compared with a 0.5% rise in the year to June.
  • Although the small increase in the rate between June 2016 and July 2016 takes it to the highest seen since November 2014, it is still relatively low in the historic context.
  • The main contributors to the increase in the rate were rising prices for motor fuels, alcoholic beverages and accommodation services, and a smaller fall in food prices than a year ago.
  • These upward pressures were partially offset by falls in social housing rent, and falling prices for certain games and toys.

The TUC said:

Inflation figure is a reminder of need for urgent action to protect jobs

Employment rate highest since 1971

UK Labour Market: July 2016 – ONS

Main points for March to May 2016

  • There were 1.65 million unemployed people (people not in work but seeking and available to work), 54,000 fewer than for the 3 months to February 2016, 201,000 fewer than for a year earlier and the lowest since March to May 2008.
  • There were 903,000 unemployed men, 108,000 fewer than for a year earlier. There were 742,000 unemployed women, 93,000 fewer than for a year earlier.
  • The unemployment rate was 4.9%, down from 5.6% for a year earlier. The last time it was lower was for July to September 2005.
  • There were 31.70 million people in work, 176,000 more than for the 3 months to February 2016 and 624,000 more than for a year earlier.
  • There were 23.19 million people working full-time, 401,000 more than for a year earlier. There were 8.52 million people working part-time, 223,000 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%, the highest since comparable records began in 1971.
  • There were 8.87 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 46,000 fewer than for the 3 months to February 2016 and 181,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.6%, the lowest since comparable records began in 1971.

Self-employment rising

Trends in self-employment in the UK: 2001 to 2015 – ONS

The level of self-employment in the UK increased from 3.8 million in 2008 to 4.6 million in 2015.

The recent rise in self-employment is the extension of a trend started in the early 2000s

Part time self-employment grew by 88% between 2001 and 2015, compared to 25% for the full-time mode.

In general, self-employed workers are broadly content with their labour market status

Unemployment falling

UK Labour MarketĀ -June 2016: ONS

Between the 3 months to January 2016 and February to April 2016, the number of people in work increased, the number of unemployed people fell, and the number of people not working and not seeking or available to work (economically inactive) fell slightly.

There were 1.67 million unemployed people (people not in work but seeking and available to work), 20,000 fewer than for the 3 months to January 2016, 148,000 fewer than for a year earlier and the lowest since March to May 2008.

There were 892,000 unemployed men, 113,000 fewer than for a year earlier. There were 779,000 unemployed women, 35,000 fewer than for a year earlier.

The unemployment rate was 5.0%, the lowest since August to October 2005. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.

There were 31.59 million people in work, 55,000 more than for the 3 months to January 2016 and 461,000 more than for a year earlier.

There were 23.10 million people working full-time, 304,000 more than for a year earlier. There were 8.50 million people working part-time, 157,000 more than for a year earlier.

The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.2%, the joint highest since comparable records began in 1971.

There were 8.92 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 9,000 fewer than for the 3 months to January 2016 and 124,000 fewer than for a year earlier.

The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.8%, unchanged compared with the 3 months to January 2016 but lower than for a year earlier (22.2%).

Unemployment falls

UK Labour Market: May 2016 – ONS

Main points for January to March 2016

  • There were 1.69 million unemployed people (people not in work but seeking and available to work), little changed compared with October to December 2015 but 139,000 fewer than for a year earlier.
  • The unemployment rate was 5.1%, unchanged compared with October to December 2015 but lower than for a year earlier (5.6%). The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.
  • There were 31.58 million people in work, 44,000 more than for October to December 2015 and 409,000 more than for a year earlier.
  • There were 23.12 million people working full-time, 328,000 more than for a year earlier. There were 8.46 million people working part-time, 81,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.2%, the highest since comparable records began in 1971.
  • There were 8.90 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 20,000 fewer than for October to December 2015 and 116,000 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%, the joint lowest since comparable records began in 1971.

 

Inflation rate falls

UK consumer price inflation: Apr 2016 – ONS

  • The Consumer Prices Index (CPI) rose by 0.3% in the year to April 2016, down from 0.5% in the year to March.
  • From late 2015, the rate began to increase gradually from close to zero. The drop in April 2016 is the first fall since September 2015.
  • Falls in air fares and prices for clothing, vehicles and social housing rent were the main contributors to the decrease in the rate.
  • These downward pressures were partially offset by rising prices for motor fuels and for certain recreational goods and cultural services, and by food prices, which were unchanged between March and April 2016, having fallen between the same two months a year ago.