UK Unemployment Falls by 63,000

The number of people out of work in the UK fell by 63,000 to 2.33 million in the three months to January 2014, according to official figures.

The unemployment rate now stands at 7.2% of the population, the Office for National Statistics (ONS) said.

The number of people in employment rose to a record 30.19 million, helped by a rise in the number of self-employed.

Average earnings also increased, with pay in the three months to January up 1.4% from a year earlier.

The number of employees in work fell by 60,000, but 211,000 more people were recorded as self-employed.

There was better news for young people, as the number of unemployed 16 to 24-year-olds stood at 912,000 in the three months to January, a drop of 29,000 and the lowest level since 2011.

In February, the number of people claiming Jobseeker’s Allowance fell by 34,600 to 1.175 million. Over the course of a year, the number has dropped by 363,200.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.