Unemployment falling

UK labour market: August 2017 – ONS

  • There were 1.48 million unemployed people (people not in work but seeking and available to work), 57,000 fewer than for January to March 2017 and 157,000 fewer than for a year earlier.
  • The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.4%, down from 4.9% for a year earlier and the lowest since 1975.
  • There were 8.77 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 64,000 fewer than for January to March 2017 and 90,000 fewer than for a year earlier.
  • There were 32.07 million people in work, 125,000 more than for January to March 2017 and 338,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 75.1%, the highest since comparable records began in 1971.
  • There were 883,000 people (not seasonally adjusted) in employment on “zero-hours contracts” in their main job, 20,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.3%, down from 21.6% for a year earlier and the lowest since comparable records began in 1971.
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UK unemployment continues to fall

UK labour market: Apr 2017 – ONS

Main points for the three months to February 2017

  • There were 1.56 million unemployed people (people not in work but seeking and available to work), 45,000 fewer than for September to November 2016 and 141,000 fewer than for a year earlier.
  • The unemployment rate was 4.7%, down from 5.1% for a year earlier. It has not been lower since June to August 1975. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.
  • There were 8.88 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 10,000 fewer than for September to November 2016 and 36,000 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%, slightly lower than for September to November 2016 (21.7%) and for a year earlier (21.8%).
  • There were 31.84 million people in work, 39,000 more than for September to November 2016 and 312,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.6%, the joint highest since comparable records began in 1971.

Unemployment falling

UK labour market: Mar 2017 – ONS

Main points for the 3 months to January 2017

  • There were 1.58 million unemployed people (people not in work but seeking and available to work), 31,000 fewer than for August to October 2016 and 106,000 fewer than for a year earlier.
  • There were 867,000 unemployed men, 21,000 fewer than for August to October 2016 and 56,000 fewer than for a year earlier.
  • There were 717,000 unemployed women, 10,000 fewer than for August to October 2016 and 50,000 fewer than for a year earlier.
  • The unemployment rate was 4.7%, down from 5.1% for a year earlier. It has not been lower since June to August 1975.
  • There were 8.87 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 34,000 fewer than for August to October 2016 and 59,000 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%, slightly lower than for August to October 2016 (21.7%) and lower than for a year earlier (21.8%).
  • There were 31.85 million people in work, 92,000 more than for August to October 2016 and 315,000 more than for a year earlier.
  • There were 23.34 million people working full-time, 305,000 more than for a year earlier. There were 8.52 million people working part-time, 10,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.6%, the joint highest since comparable records began in 1971.

Employment rate highest since 1971

UK labour market: Feb 2017 – ONS

Main points for October to December 2016

  • There were 31.84 million people in work, 37,000 more than for July to September 2016 and 302,000 more than for a year earlier.
  • There were 23.29 million people working full-time, 218,000 more than for a year earlier. There were 8.55 million people working part-time, 84,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.6%, the highest since comparable records began in 1971.
  • There were 1.60 million unemployed people (people not in work but seeking and available to work), little changed compared with July to September 2016 but 97,000 fewer than for a year earlier.
  • There were 877,000 unemployed men, little changed compared with July to September 2016 but 48,000 fewer than for a year earlier.
  • There were 720,000 unemployed women, little changed compared with July to September 2016 but 50,000 fewer than for a year earlier.
  • The unemployment rate was 4.8%, down from 5.1% for a year earlier. It has not been lower since July to September 2005.
  • There were 8.86 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 31,000 fewer than for July to September 2016 and 61,000 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%, slightly lower than for July to September 2016 (21.7%) and lower than for a year earlier (21.8%).

Fall in unemployment

UK labour market: Jan 2017 – ONS

  • There were 1.60 million unemployed people (people not in work but seeking and available to work), 52,000 fewer than for June to August 2016 and 81,000 fewer than for a year earlier.
  • There were 883,000 unemployed men, 8,000 fewer than for June to August 2016 and 41,000 fewer than for a year earlier.
  • There were 721,000 unemployed women, 44,000 fewer than for June to August 2016 and 40,000 fewer than for a year earlier.
  • The unemployment rate was 4.8%, down from 5.1% for a year earlier. It has not been lower since July to September 2005.
  • There were 8.89 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 85,000 more than for June to August 2016 but 63,000 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%, higher than for June to August 2016 (21.5%) but lower than for a year earlier (21.9%).
  • There were 31.80 million people in work, little changed compared with June to August 2016 but 294,000 more than for a year earlier.
  • There were 23.25 million people working full-time, 209,000 more than for a year earlier. There were 8.55 million people working part-time, 86,000 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%, virtually unchanged compared with June to August 2016 but higher than for a year earlier (74.0%).

UK unemployment falling

UK labour market: Nov 2016 – ONS

  • There were 1.60 million unemployed people (people not in work but seeking and available to work), 37,000 fewer than for April to June 2016 and 146,000 fewer than for a year earlier.
  • There were 876,000 unemployed men, 15,000 fewer than for April to June 2016 and 82,000 fewer than for a year earlier.
  • There were 728,000 unemployed women, 22,000 fewer than for April to June 2016 and 64,000 fewer than for a year earlier.
  • The unemployment rate was 4.8%, down from 5.3% for a year earlier and the lowest since July to September 2005.
  • There were 8.89 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 49,000 more than for April to June 2016 but 103,000 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%, down from 22.0% for a year earlier.
  • There were 31.80 million people in work, 49,000 more than for April to June 2016 and 461,000 more than for a year earlier.
  • There were 23.24 million people working full-time, 350,000 more than for a year earlier. There were 8.56 million people working part-time, 110,000 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 joint highest since comparable records began in 1971.

 

Put consumers first in the forthcoming Brexit talks: British Retail Consortium

BRC SAYS UK BREXIT STRATEGY MUST FOCUS ON A FAIR DEAL FOR CONSUMERS

The British Retail Consortium has called on Government negotiators to put consumers first in the forthcoming Brexit talks by ensuring their sights are firmly set on keeping shop prices low once the UK leaves the European Union.

Failure to strike a good Brexit deal by 2019 would have a disproportionately severe impact on retailers and their customers, because if the UK fell back on to World Trade Organisation (WTO) rules the new tariff rates that the UK would apply to imports from the EU would be highest for consumer staples like food and clothing.

For example, the average duty on meat imports could be as high as 27%, while clothing and footwear would attract tariffs of 11-16% versus the current zero-rating for all EU imports.

Falling back on to WTO rules would also increase the cost of sourcing from beyond the EU.  The import cost of women’s clothing from Bangladesh would be 12% higher, while Chilean wine would be 14% dearer for importers. This contrasts with duty rates that would apply to raw materials and semi-finished products, many of which would be zero-rated or attract rates of duty of below 10%.