News — Unemployment

Youth unemployment

February 24, 2014 • Unemployment • youth unemployment

As with adult unemployment, the level of unemployment of 16 – 24 year olds in the UK fell in the last quarter of 2013 to 917,000 – down 48,000 – with the unemployment rate now at 19.9% - down 1% - further indication that aggregate demand in the economy is growing. The drop affected only the 18-24 year old group, where the rate fell from 19.1% to 17.9% (734,000), with unemployment among 16-17 year olds actually rising from 36.2 to 36.4% (at 183,000). In contrast, 50-64 year olds are the least at risk of unemployment, with a rate of just 4.4%.

CPI inflation down to 2.1%

December 18, 2013 • Bank of England • CPI • George Osborne • Inflation • Mark Carney • Unemployment

More good news for the Chancellor and Governor of the Bank of England this week as the downward trend in inflation continued. November’s Consumer Price Index (CPI) grew by 2.1% in the year to November, down from 2.2% in October – just 0.1% off target.

Latest unemployment news

September 4, 2013 • Unemployment

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 7.7% (down to 2.49 million).

Underemployment

December 20, 2012 • Underemployment • Unemployment

The ONS this week announced that underemployment in the UK has risen to just over 10% of the labour force, up nearly 50% since the start of the recession in 2008. Underemployment now stands at just over 3 million, affecting 20% of young people and concentrated in low skill occupations. The ONS defines the underemployed as those who are currently working and willing to work more hours than they currently do, and are available to start within the next two weeks. The underemployed are either looking for more work from their current job, or looking to move to a job...

Youth unemployment

October 10, 2012 • Unemployment • youth unemployment

Unemployment of young people in the UK in February 2012 was 1.03m – down from 1.04m in the last quarter of 2011. Despite this modest fall, observers in the UK and around the world, including the UK’s National Institute of Economic and Social Research and the World Economic Forum, agree that youth unemployment represents one of the most serious economic and social problems facing developed and developing economies alike. Youth unemployment of 1.03m (at 22%) means that approximately one in five young people actively engaged in the labour market (those defined as active) are looking for work, but cannot obtain...