New figures out today show that the unemployment rate has fallen again in the UK but youth unemployment has increased.
The figures, from the Office for National Statistics, reveal that during the three months to June this year, the unemployment rate fell by 4,000.There’s now 2.51 million people unemployed across the country.
The latest figures demonstrate just how little the unemployment landscape is changing in the UK. Youth unemployment, which includes people aged between 16-24, increased by 15,000 and the number of long-term unemployed (unemployed for over two years) also increased by 10,000.
Although some figures don’t suggest a lot of change, there are some aspects that have been changing rapidly including the number of people claiming Jobseeker’s Allowance. That figure has fallen by 29,000 – it has fallen for the last nine consecutive months.
The number of employed people in the UK is now at 29.78 million – rising by 69,000 during May, June and July. This is apparently the biggest number of people employed in the UK in over forty years. There has been a small change to average weekly earnings in the UK too – which have risen by 1%.
The latest figures only come a week after it was announced that interest rates would not increase from their current 0.5% until the unemployment rate in the UK is at 7%.
The current unemployment rate in the UK is 7.8% and has remained fairly unchanged in recent months. However it has been suggested that figure could drop to 7% by the beginning of 2016.