U.K. Jobless rate declines to 7.8% while claimants rise by 10,100

This article was last updated on April 16, 2022

Canada: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…
USA: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…

Unemployment rate in U.K. has declined to lowest level in the three months to September taking it to 7.8% from 7.9% as confirmed on Wednesday. However, the claimant count has risen by 10,100 last month to 1.58 million, the highest since last July.

According to the data released by the Office for National Statistics, the national unemployment tally fell by 49,000 between July and September to 2.51 million, its lowest level for 13 months. The number of people in work rose by 100,000 to 29.58 million.

Unemployment among 16 to 24-year-olds fell by 49,000, similar to the total fall in today’s jobless figures.

Employment minister, Mark Hoban has said: “The fall in youth unemployment is particularly welcome, although we’re not complacent about the scale of the challenge still facing us.”

However, a significant and surprising rise in Jobseeker’s Allowance claimants pointed towards a different aspect. It is the biggest increase in last 13 months — of which about a third was in London.

TUC general secretary, Brendan Barber said: “Tougher times may still be ahead if our economy starts to slow again in the autumn quarter.”

The figures also showed that part-time employment increased by 49,000 to 8.1 million, close to a record high, and there were 51,000 more people in full-time jobs, at 21.4 million.

Average earnings increased by 1.8 percent in the year to August, up by 0.1 percent from July, giving average weekly pay of £471, including bonuses.

However, economists suggested that the latest data indicate that the pace of job creation is slowing.

The CBI’s director for employment and skills, Neil Carberry has said: “It’s encouraging that people are continuing to find jobs and that the unemployment rate is falling, but progress on getting people into work is much slower than we saw earlier in the year.”

Article viewed on Oye! Times at www.oyetimes.com.