LABOUR MARKET STATISTICS: UK UNEMPLOYMENT
July 13 2011 - The unemployment rate stands at 7.7% - down 0.1% over the quarter and 0.1% on the year. 29.28 million people were in work in March to May 2011 according to the labour force survey (LFS). The number of people employed was 50,000 higher this quarter and up by 309,000 from last year.
The working age employment rate is 70.7% - unchanged on the last quarter and up 0.2% over the year.
ILO-defined unemployment in March to May 2011 was 2.45 million (7.7%) - down by 26,000 on the quarter and 23,000 on the same quarter last year.
The claimant count for key out-of-work benefits was 1,520,100 in June - up by 24,500 on last month and up 50,900 on the last year.
Earnings growth over the year to March to May 2011 (including bonuses) was 2.3%.
Minister for Employment Chris Grayling said:
"There continue to be some encouraging signs in the labour market figures, particularly with the continued rise in private sector employment. It's really important that we continue to support the economy and encourage businesses to invest and create jobs.
"However, we do not underestimate the scale of the challenge that we face to help people into employment. We always said that the road to recovery would be choppy; for people who lose their jobs our new Work Programme is now up and running and will offer jobseekers flexible support tailored to their needs to help them into employment."
CIPD Chief Economic Adviser John Philpott said:
"Today’s figures suggest that conditions in the labour market are weaker than earlier in the year. The headline improvement in employment and unemployment is relatively small and with vacancies continuing to fall and redundancies now starting to increase as public sector cutbacks begin to bite it’s clear that the underlying jobs situation is deteriorating. The number of unemployed people chasing each job vacancy is back to where it was in the dark days of the recession in the spring of 2009. And while... [continues]
July 13 2011 - The unemployment rate stands at 7.7% - down 0.1% over the quarter and 0.1% on the year. 29.28 million people were in work in March to May 2011 according to the labour force survey (LFS). The number of people employed was 50,000 higher this quarter and up by 309,000 from last year.
The working age employment rate is 70.7% - unchanged on the last quarter and up 0.2% over the year.
ILO-defined unemployment in March to May 2011 was 2.45 million (7.7%) - down by 26,000 on the quarter and 23,000 on the same quarter last year.
The claimant count for key out-of-work benefits was 1,520,100 in June - up by 24,500 on last month and up 50,900 on the last year.
Earnings growth over the year to March to May 2011 (including bonuses) was 2.3%.
Minister for Employment Chris Grayling said:
"There continue to be some encouraging signs in the labour market figures, particularly with the continued rise in private sector employment. It's really important that we continue to support the economy and encourage businesses to invest and create jobs.
"However, we do not underestimate the scale of the challenge that we face to help people into employment. We always said that the road to recovery would be choppy; for people who lose their jobs our new Work Programme is now up and running and will offer jobseekers flexible support tailored to their needs to help them into employment."
CIPD Chief Economic Adviser John Philpott said:
"Today’s figures suggest that conditions in the labour market are weaker than earlier in the year. The headline improvement in employment and unemployment is relatively small and with vacancies continuing to fall and redundancies now starting to increase as public sector cutbacks begin to bite it’s clear that the underlying jobs situation is deteriorating. The number of unemployed people chasing each job vacancy is back to where it was in the dark days of the recession in the spring of 2009. And while... [continues]
Cite This Essay
- APA
-
(2011, 07). Labour Market Statistics: Uk Unemployment. StudyMode.com. Retrieved 07, 2011, from http://www.studymode.com/essays/Labour-Market-Statistics-Uk-Unemployment-744634.html
- MLA
-
"Labour Market Statistics: Uk Unemployment" StudyMode.com. 07 2011. 07 2011 <http://www.studymode.com/essays/Labour-Market-Statistics-Uk-Unemployment-744634.html>.
- CHICAGO
-
"Labour Market Statistics: Uk Unemployment." StudyMode.com. 07, 2011. Accessed 07, 2011. http://www.studymode.com/essays/Labour-Market-Statistics-Uk-Unemployment-744634.html.
