Economy

– Latest Labour Market Statistics (ONS)

The Office for National Statistics (ONS) has released the latest UK labour market statistics for June to August 2010.  The figures show that during these months:

  • The employment rate was 70.7 per cent and there were 29.16 million people in employment.
  • The unemployment rate was 7.7% and there were 2.45 million unemployed people.
  • The inactivity rate was 23.2 per cent and there were 9.28 million inactive people between the ages of 16-64.
  • Regular pay (excluding bonuses) increased by 2.0 per cent on a year earlier,
  • From September 2010 the number of people claiming Jobseeker’s allowance was 1.47 million.

The report shows that employment is up 241,000 on the year but is 270,000 lower than the two previous years.  Approximately 1.14 million employees and self-employed people were working on a part-time basis because they could not source a full-time job.  According to the ONS “this is the highest figure since comparable records began in 1992 and is up 65,000 on the quarter”.  Also, the number of full-time workers rose by 35,000 on the quarter to reach 21.20 million.

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