Labour Market Statistics, November 2011

Labour Market Statistics, November 2011

  • There were 2.62 million unemployed people, up 129,000 on the quarter.
  • The unemployment rate was 8.3 per cent of the economically active population, up 0.4 on the quarter.
  • The unemployment rate is the highest since 1996 and the number of unemployed people is the highest since 1994.
  • The inactivity rate for those aged from 16 to 64 was 23.3 per cent, up 0.1 on the quarter.
  • There were 9.36 million economically inactive people aged from 16 to 64, up 64,000 on the quarter.
  • The employment rate for those aged from 16 to 64 was 70.2 per cent, down 0.4 on the quarter.
  • There were 29.07 million people in employment aged 16 and over, down 197,000 on the quarter.

CBI has revised down its forecast for the UK economy

The CBI has revised down its forecast for the UK economy

The CBI now expects GDP growth to be 0.9% in 2011 and 1.2% in 2012, down from 1.3% and 2.2% respectively. It forecasts quarter-on-quarter GDP growth to be 0.0% in Q4 2011 and 0.2% in Q1 of 2012.

Total business investment is expected to grow by 0.6% in 2011, down from 3.7% in the previous forecast, and 6.9% in 2012, down from 9.3%.

 

TUC analysis reveals youth unemployment increases in 97% of the UK

Youth unemployment increases in 97 per cent of the UK in the last year

  • Youth unemployment has increased in 97 per cent of local authority areas in the UK. The number of young people aged between 18 and 24 unable to find work has increased in 196 of 202 local authorities since September 2010.
  • From September 2007 to September 2011, the number of young people unable to find work at least doubled in a third of local authorities.