According to the latest figures from the Office for National
Statistics, the total number of people in work, the employment rate and the
total number of vacancies are all up. Whilst the number of unemployed, the claimant
count, the unemployment rate, the economic inactivity rate and the redundancy
rate were all down.
Details of the latest figures:
In the 3 months to February 2008.:-
The total number of people in work increased by 152,000 to 29.51
million – the highest figure since comparable records began in 1971. Over
the past year it has risen by 456,000. The working age employment rate rose
to 74.9% - up 0.6% over the past year.
The number of unemployed people fell by 39,000 to 1.61 million
–and was down by 90,000 over the past year. The unemployment rate was
5.2%, down by 0.1% over the previous 3 months and 0.4% over the previous year.
The number of people claiming Jobseekers Allowance benefit in
March was 794,300 (the lowest figure since 1975) – down 1,200 on the revised
figure for February and 110,600 on the year.
The economic inactivity rate for people of working age was 20.9%
down by 0.1% over the past 3 months and 0.3% on the year. The number of economically
inactive people of working age fell by 36,000 to 7.87 million and down by 71,000
over the past year.
In the 3 months to February 2008, 106,000 people were made redundant
in the 3 months before their interview. This was down 17,000 from the previous
quarter and down 39,000 on the year.
The number of job vacancies went up by 7,300 in the 3 months
to January to 677,400 - up 72,000 on the same period last year.
Commenting on the figures, Stephen Timms, Minister for Employment
and Welfare Reform said:
"More people now than ever are in work, while unemployment
continues to fall - showing strong performance in spite of the current global
economic uncertainties.”
And he pointed in particular to an increase of 214,000 in the
number of people aged 50 plus who are in work over the past 12 months –
which accounted for just under half the total increase.
"The economy is benefiting from the skill and expertise
that people aged over 50 are bringing to the workforce and we are continuing
to ensure that our welfare reforms provide greater opportunities for people
across all walks of life to get into work if they want to," he said.
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