A stabilisation on the British Labor Market

There are further signs that the labor market is stabilising despite the tough economic climate, according to new figures published by the Office for National Statistics (UK). Although unemployment showed a rise of 28,000 compared to the previous quarter, it was 5,000 below the figure published one month before.

Private sector job creation also outstripped public sector job losses. An extra 45,000 people are now in private sector employment compared to the previous quarter, while public sector employment fell by 37,000.

The number of people in employment rose by 9,000 compared to the previous quarter, with 29.129 million people in work now. There are over 250,000 more people in work compared to May 2010.

The number of women in work rose 10,000 this quarter to 13.5 million. Female unemployment also rose because more women are entering the labor market having previously been inactive.

There was also a small drop in the number of young people claiming Jobseekers Allowance, with 480,300 18 to 24-year-olds now claiming the benefit – 900 fewer than the previous month.

The statistics also reveal there are a significant number of jobs available, with 473,000 unfilled vacancies, up 15,000 on the previous quarter.

Employment Minister Chris Grayling said: “This is a more encouraging set of figures, with signs that the labor market is stabilising, but there is clearly still a big challenge ahead to bring down unemployment and get people back to work. Furthermore he said: “The international economic outlook remains difficult but we will do everything we can to help the unemployed find jobs.”

Unemployment in the UK remains below the European Union average while employment remains above the EU average.

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2 thoughts on “A stabilisation on the British Labor Market

  1. All in all, I liked this article a lot revealing the situation of the British labour market. The only thing I was missing in there are the facts in figures displayed in percent. It is more difficult to get a good overview of the market if you only have total numbers.
    Nevertheless it was great to hear that the British job market remains positiv and above the European job market. Furthermore it is quite impressive that there are even 15.000 unfilled vacancies in the market! This makes the British labour market probably quite good.

    Reply

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