Unemployment in the UK

Number of NEETs on the increase

Young person entering a JobCentrePlus
PA

Latest figures from the Office for National Statistics show there were 792,000 young people (aged 16 to 24 years) in the UK who were not in education, employment or training (NEET) during the April to June period.

That was up 28,000 on the January to March quarter and 14,000 more than the same period a year previously

That meant the percentage of all young people in the UK classed as NEETs was 11.5%.

"Of all young people in the UK who were NEET, 41.6% were looking for, and available for, work and therefore classified as unemployed; the remainder were either not looking for work and/or not available for work and therefore classified as economically inactive," said the ONS.

The figures come on the same day that GCSE results have been announced.

They showed the pass rate edged up to 67.3% in England, Wales and Northern Ireland - 0.4 percentage points higher on last year.

The slight increase in the GCSE pass rate and the percentage of top grades this year came against a background of concerns about the difficulty of exams.

Employment is a 'bright spot for Britain'

Man searching for job online
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Tom Stevenson, investment director for personal investing at Fidelity International, says that the labour market "is still the bright spot in the British economy".

But he says: "There is strong evidence to suggest a more balanced outlook than these numbers imply.

"Last week’s news that the UK economycontracted during the second quarter of the year has prompted fears of a recession. The Bank of England remains poised to cut interest rates before the end of the year - especially if, as now seems much more likely, there is a no-deal Brexit at the end of October."

Jobless numbers shrink

The number of people out of work fell by 33,000 to 1.33 million in the year to June.

The unemployment rate is 3.9% while the number of people in work hit a record 76.1%.

Matt Hughes, deputy head of labour market statistics at the ONS, said: "Employment continues to increase, with three-quarters of this year’s growth being due to more women working.

"However, the number of vacancies has been falling for six months, with fewer now than there were this time last year."

South has lowest unemployment figures across UK

Unemployment graph
BBC

The South East and West of England had the lowest numbers of unemployment across the UK between March and May 2019.

It was lowest in the South West at 2.6%, which saw no change on the previous quarter, according to the Office for National Statistics (ONS).

The South East was the second lowest at 2.8%. The highest in the UK was the North East at 5.6%.

Unemployment graph
BBC

Nationally, the rate is 3.8% - its lowest since late 1974.

Figures also showed wage growth in the UK was 3.6% in the year to May 2019, the highest growth rate since 2008.

Read more:https://www.bbc.co.uk/news/business-49002056

Unemployment rate in London stands at 4.3%

Unemployment graph
BBC

Unemployment across the UK was 3.8% between March and May 2019.

The rate is at its lowest since late 1974.

The London unemployment rate stands at 4.3%.

It was highest in the North East at 5.6% which saw no change on the previous quarter, according to the Office for National Statistics (ONS).

Figures also showed wage growth in the UK was 3.6% in the year to May 2019, the highest growth rate since 2008.

Full story

UK employment outlook continues to fall

Car factory workers
PA

According to the accountants and business advisors' BDO Employment Index, the outlook for UK employment has fallen for the second consecutive month after years of sustained growth.

BDO’s Employment Index fell to 112.82 points in June - its lowest in over a year.

The glory years of rising UK employment figures could be coming to an end. While the numbers remain in positive territory, growth is slowing," said Peter Hemington, Partner at BDO LLP.

"The labour market has been resilient to the potential effects of Brexit, but months of negative sentiment has finally taken its toll. Businesses’ hiring plans had remained buoyant in the face of uncertainty. But as confidence begins to turn, there’s no sugarcoating the fear that job prospects will take a hit.”

The number of employed people in the UK rose in March to a record high of 32.7 million people.

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