New low for UK unemployment rate

UK Labour Market, January 2016

Main points for September to November 2015

• The unemployment rate was 5.1%, lower than for a year earlier (5.8%). It has not been lower 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 1.68 million unemployed people (people not in work but seeking and available to work), 99,000 fewer than for June to August 2015 and 239,000 fewer than for a year earlier.
• There were 919,000 unemployed men, 149,000 fewer than for a year earlier. There were 756,000 unemployed women, 89,000 fewer than for a year earlier.
• There were 31.39 million people in work, 267,000 more than for June to August 2015 and 588,000 more than for a year earlier.
• There were 22.96 million people working full-time, 436,000 more than for a year earlier. There were 8.43 million people working part-time, 152,000 more than for a year earlier.
• The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.0%, the highest since comparable records began in 1971.

UK inflation rises

Consumer Price Inflation, December 2015: ONS

• The Consumer Prices Index (CPI) rose by 0.2% in the year to December 2015, compared with a 0.1% rise in the year to November 2015.
• Although this is the first month since January 2015 for which the rate has exceeded 0.1%, this continues the trend since early 2015 of the rate being very close to zero.
• Movements in transport costs, particularly air fares and to a lesser extent motor fuels, were the main contributors to the rise in the rate.
• Downward pressures from prices for alcohol and tobacco along with food and non-alcoholic beverages partially offset the rise