UK unemployment falls by 51,000

Published by Jon Land for 24dash.com in Central Government and also in Finance

Employment has risen 0.3% in the last quarter, according to the latest data from the Office of National Statistics.

The unemployment rate was 8.2% of the economically active population, down 0.2% on the quarter. There were 2.61 million unemployed people, down 51,000. 

The employment rate for those aged from 16 to 64 was 70.6%, meaning an extra 166,000 are now in work.

The number of people employed in the private sector increased by 205,000 to reach 23.38 million but the number of people employed in the public sector fell by 39,000 to reach 5.90 million, the lowest figure since March 2003. 

The inactivity rate for those aged from 16 to 64 was 23.0%, down 0.2% on the quarter. There were 9.23 million economically inactive people aged from 16 to 64, down 69,000.

Total pay (including bonuses) rose by 1.4% on a year earlier, up 0.5% on the three months to March 2012. Regular pay (excluding bonuses) rose by 1.8%on a year earlier, up 0.2% on the three months to March 2012.

However, the unemployment rate of those aged from 16 to 24 stands at 21.9%, with one in five out of work.

New joint research from the Financial Skills Partnership and Career Academies UK, based on a survey of 17 and 18 year old Career Academies UK students suggests there are still too many young people, from school leavers to graduates, unemployed and searching for a job or training.

Liz Field, CEO of the Financial Skills Partnership, said, “Young people are making poorly informed choices, which may affect their future career options and the talent pipeline for many industries.

“The research shows that many young people know far too little about their potential career options, and that employers, educators and the government could all do more to help.

“We need to equip young people with the knowledge and skills to take responsibility for their own career planning and progression, if they are to be the professionals of tomorrow, able to lead us out of recession and into growth and renewal.”

Employment Minister Chris Grayling said: “Any fall in unemployment is very welcome but I remain cautious over the next few months given the continuing economic challenges we face.”

“These figures show that with the right support in place it is possible for the private sector to create jobs while the public sector employment is falling.”