The latest unemployment figures released by the ONS today provide a positive sign that the jobs market is improving, both in terms of rising employment, up 0.3%, and falling unemployment – down by 0.1% to 7.6% (down to 2.47 million). There was also good news in terms of the ‘inactivity rate’ which was down 0.2% to 8.92 million. However, average pay, which rose by 0.7% from June to August is still failing to keep pace with inflation, meaning that real incomes are still falling. However, for homeowners, the housing market continues to shows strong signs of recovery. although the elusive ‘feel-good’ factor remains absent.
More on unemployment.