UK Unemployment Hits New 10-year low

A record number of people are in work wiith unemployment falling by another 60,000 to its lowest rate for a decade, capping off a great start to the year for the employment market.

More than 31.4 million people are in work throughout the UK, the highest since records began in 1971. The jobless total dipped to 1.69 million in the final quarter of 2015 according to data from the Office for National Statistics (ONS).

The number of people on the Jobseeker’s Allowance also fell by 14,800 in January to 760,000, the lowest since 1975.

Data from the ONS also showed a record 776,000 job vacancies across the UK economy after a 23,000 increase in the latest quarter. There is also great news for campaigners of women in the workplace with the economically inactive rate for women falling to 27.2%, another record low.

ONS statistician Nick Palmer said: "While the employment rate continues to hit new highs and there are more job vacancies than ever previously recorded, earnings growth remains subdued and markedly below the recent peak of mid-2015."

There is also more positive news for UK nationals with an increase of 278,000 being employed between October and December, taking the total past 28.28 million. Non-UK nationals in employment also rose by 254,000 to 3.22 million.

The proportion of non-UK nationals in work throughout the UK has increased from 3.8% in 1997 to 10.2%.

There are now 150,000 more disabled people in work over the past year, which is fantastic news.
Minister for Disabled People Justin Tomlinson said, “It is vital we stay oncourse with our long-term economic plan, to ensure more hard-working families benefit from the country's growing economy.”

"By working to halve the disability employment gap, we want to make sure more people can reap the positive financial and health rewards of employment, and are helped to achieve their ambitions."

The government said a number of record-breaking figures were released, including a 70% employment rate for older people, an employment rate of young people who have left full-time education at a 10-year high of 74.7%, more than a million more women in work since 2010 and 150,000 more disabled people in work over the past year.

With competition for employment opportunities, steadily increasing it is vital that you are able to distinguish yourself from others. Make sure your CV is up-to-date and makes you stand out!

To discuss a recruitment role or if you would like Stafffinders to assist in placing you, please contact one of our experts.

Get in touch