UK unemployment falls below 2 million

The UK unemployment rate fell to 6% between June and August. This is the lowest rate since the financial crisis hit. The drop is bigger than analysts expected.

The Office for National Statistics reported:

  • Wage growth remained below the current 1.2% inflation rate
  • Number of people in employment rose by 46,000, the weakest quarterly gain since May
  • 30.76 million people are in work
  • The number of economically inactive, those choosing not to work, increased
  • The number of people claiming Jobseeker’s Allowance in September fell for the 23rd consecutive monthly reduction
  • The number of self-employed people dropped, but the total is higher than a year ago
  • The number of employees in part-time jobs reached a record high of 6.8 million
  • Youth unemployment – covering 16-to-24-year-olds – fell, giving a jobless rate among the age group of 16%.

If you’re considering hiring an employee but aren’t sure where to begin with payroll, RTI, and registering your company as an employer, please get in touch to see how we can help. Nine Ashes Bookkeeping provides payroll services to small and medium sized businesses in Essex – serving the Brentwood, Chelmsford, Billericay, Harlow, Epping, Ongar and Ingatestone areas.

 

Source: BBC Business News, 15 October 2014

 

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