UK Workless Households Fall to Lowest Level

October 29, 2014 Share Print 0

The number of households where there are no adults in work has fallen to its lowest level since 1996, according to official data.

Just under 16% of UK households where an adult of working age is living are now “workless”, according to the Office for National Statistics. This latest figure, which relates to the second quarter of 2014, marked a fall of 1.4% on the same period a year earlier and is the biggest annual fall since records began 18 years ago.

The latest data means that there are now 271,000 households who have moved from workless to having at least one working occupant in the last year. It is the fourth consecutive year that the number of workless households has fallen, following a rise in 2010 when redundancies as a result of the economic downturn took their toll.

Then, 19% of UK households were workless, though this was still lower than the 21% when records began in 1996.

via The Guardian

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.