UK Employment Reaches 38-Year High
- by Career Moves Group
- 20 Mar 2019
The Office for National Statistics shows that a new record number of 32.7 million people are employer between November and January 2019. The UK’s employment rate is at 76.1%, the highest since records began in 1971. Unemployment fell below 4%, for the first time since 1975, dropping 35,000 to 1.34million.
This figure is below the EU average of 6.5% and is 112,000 lower than one year ago.
Excluding bonuses, average weekly earnings are estimated to have increased by 3.4% before adjusting for inflation. This us down by 0.1% on the previous month but is still outpacing the rate of inflation.
The employment of men and women has risen to record-levels. With the number of men in employment increasing by 77,000 to a record high of 17.32 million, and the number of employed women experiencing the largest increase since February-to-April 2014, by 114,000 to 15.40 million.
The overall number of job vacancies has increased by 4,000 to 854,000. The number of economically inactive people fell by 117,000 to 8.55 million, to the lowest rate recorded of 20.7%.
Currently, the new total unemployment rate of 3.9% has not been lower since the November 1974 to January 1975 period.
Unemployment rates for men sit at 4%, its lowest since April to June 1975. The figure for men is at its lowest since April to June 1975, while the 3.8% for women is at the lowest since comparable records began in 1971.
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