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News - 19 February 2014

UK unemployment falls by 125,000

The Office for National Statistics in its latest figures for the three months to December, said that the number of people out of work has fallen by 125,000, and the number of people claiming jobseeker's allowance last month fell by 27,600 to 1.22 million. This is the 15th consecutive monthly drop.

Meanwhile, average earnings increased by 1.1% in the year to December, a 0.2% increase on the previous month.

Latest estimates show that 193,000 more people were in work between October and December, compared to the previous three months.

That means overall employment now stands at more than 30 million, a rate of 72.1%, which is an increase of 0.6% on a year ago.

The number of people in part-time jobs now stands at 1.4 million, a fall of 29,000 over the latest quarter, but 46,000 higher than a year ago.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“Youth and long-term unemployment have also fallen, but there has been little change in the number of people classed as economically inactive, which has remained just under nine million. The unemployment rate remains a key focus for the Bank of England, but it is no longer linked to Governor Mark Carney's pledge to keep interest rates at record lows.”

If you need any help and advice on Management Accounts, Budgets and Cash Flow Forecasts, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning.

ABDS Chartered Certified Accountants of Southampton.
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