UK inflation rises

Consumer Price Inflation, October 2014

  • The Consumer Prices Index (CPI) grew by 1.3% in the year to October 2014, up from 1.2% in September.
  • Smaller falls in transport costs than a year ago – notably for motor fuels and air fares, and price rises for computer games were the main contributors to the rise in the rate of inflation.
  • Food and motor fuel prices, which have historically been upward contributors to the 12-month CPI rate, are currently reducing it by 0.3 percentage points.

Unemployment falling

Labour Market Statistics, November 2014: ONS

Key Points for July to September 2014

  • There were 1.96 million unemployed people, 115,000 fewer than for April to June 2014 and 529,000 fewer than for a year earlier.
  • The unemployment rate was 6.0%, lower than for April to June 2014 (6.3%) and lower than for a year earlier (7.6%). The unemployment rate is the proportion of the economically active population (those in work plus those seeking and available to work) who were unemployed.
  • There were 9.03 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 38,000 more than for April to June 2014 but 16,000 fewer than for a year earlier.
  • The economic inactivity rate was 22.2%, little changed compared to April to June 2014 (22.1%) and compared to a year earlier (22.3%).
  • Comparing the estimates for July to September 2014 with those for April to June 2014, employment continued to rise and unemployment continued to fall. These changes maintain the general direction of movement since late 2011/early 2012.
  • There were 30.79 million people in work. This was 112,000 more than for April to June 2014 and 694,000 more than for a year earlier.
  • The proportion of people aged from 16 to 64 in work (the employment rate), was 73.0%, higher than for April to June 2014 (72.8%) and higher than for a year earlier (71.6%).
  • There were 22.52 million people working full-time, 589,000 more than for a year earlier. There were 8.27 million people working part-time, 105,000 more than for a year earlier.

On the other hand the TUC says:

Only one in every forty new jobs since the recession is for a full-time employee