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.

 

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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.