November 11 2015

Nov. 11, 2015 (Allthingsforex.com) – The UK Office for National Statistics reported today that the unemployment rate has declined to 5.3% in the third quarter of the year, compared with 5.6% in the previous quarter. An unexpected increase in claims for jobless benefits was offset by a downward revision of the previous estimate.

Main points for July to September 2015

  • There were 31.21 million people in work, 177,000 more than for April to June 2015 and 419,000 more than for a year earlier.
  • There were 22.80 million people working full-time, 273,000 more than for a year earlier. There were 8.42 million people working part-time, 146,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 73.7%, the highest since comparable records began in 1971.
  • There were 1.75 million unemployed people (people not in work but seeking and available to work), 103,000 fewer than for April to June 2015 and 210,000 fewer than for a year earlier.
  • There were 957,000 unemployed men, 130,000 fewer than for a year earlier. There were 793,000 unemployed women, 80,000 fewer than for a year earlier.
  • The unemployment rate fell to 5.3%, lower than for April to June 2015 (5.6%) and for a year earlier (6.0%). It has not been lower since March to May 2008. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) who were unemployed.
  • There were 8.97 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 22,000 fewer than for April to June 2015 and 62,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 22.0%, little changed compared with April to June 2015 but slightly lower than for a year earlier (22.2%). The inactivity rate has not been lower since the 3 months to January 1991.
  • Comparing July to September 2015 with a year earlier, pay for employees in Great Britain increased by 3.0% including bonuses and by 2.5% excluding bonuses.

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