UK employment rises to new record

Posted by Unknown on Wednesday, March 19, 2014


The number of people claiming jobseeker's allowance in February fell by 34,600 to 1.17 million, the 16th consecutive monthly reduction, while vacancies jumped by 23,000 to 588,000, the most since 2008.




Youth and long-term unemployment both fell, with those out of work for over a year down by 38,000 to 828,000, while 912,000 people aged between 16 and 24 were jobless, down by 29,000.


The number of people classed as economically inactive, including long-term sick, those looking after a relative or who have given up looking for work, fell by 19,000 to 8.9 million, including the lowest number of women on record (5.6 million).


Public sector employment has fallen by 159,000 to 5.5 million, the lowest since December 1999, although most of the reduction was explained by Royal Mail workers moving to the private sector because of the postal group's privatisation.


Local government employment fell by 25,000 to 2.3 million and by 6,000 in the civil service to 441,000. Private sector employment is now 662,000 higher than a year ago.


The unemployment rate, now 7.2pc, is no longer linked to the Bank of England's pledge to keep interest rates at record lows after governor Mark Carney unveiled new forward guidance. The bank had pledged not to consider a rate rise until unemployment fell to 7pc.





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