You are here: Home - Saving-Banking - News -

UK unemployment falls by 115,000 to reach 1.96 million

0
Written by:
12/11/2014
Unemployment in the UK fell by 115,000 to 1.96 million in the three months to September, according to the Office for National Statistics (ONS).
UK unemployment falls by 115,000 to reach 1.96 million

The unemployment rate now stands at 6 per cent, down 0.4 percentage points from April to June 2014 and down 1.2 percentage points from a year earlier.

The ONS said the number of people in employment increased by 112,000 on the quarter and by 694,000 on the year to reach 30.79 million for April to June 2014.

Average pay including bonuses for the quarter was one per cent higher than a year earlier, while pay excluding bonuses grew by 1.3 per cent.

Some 73 per cent of people aged 16 to 64 are in work.

Richard Troue, head of investment analysis, said: “A lack of wage growth has been the missing link from the otherwise robust economic recovery Britain has experienced. However, the recent trend has been for wages to show very modest, below inflation growth and one month in isolation is not enough declare a turnaround. The champagne should remain on ice for now.

“Nevertheless, falling unemployment and rising wages are good news, and with the oil price sliding below $80 per barrel inflationary pressures are easing. Energy and food prices have been falling recently, so even modest wage growth could ease the pressure on consumers and households further, putting more pounds in their pocket in the run up to Christmas.”

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

Your rights for refunds if travel is affected by strikes

There have been a wave of strikes this year across many different industries, and more are planned over Christ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week