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

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Alfonso Esparza

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.
Alfonso Esparza