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Economy tracker: Unemployment Economy tracker: Unemployment
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Claimant count - June 2012Claimant count - June 2012
Latest news:Latest news:
The number of people out of work fell by 49,000 to 2.51 million in the three months to September href="http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/october-2012/index.html" > according to the Office for National Statistics (ONS). The number of people out of work fell by 82,000 to 2.51 million in the three months to November href="http://www.ons.gov.uk/ons/dcp171778_287888.pdf" > according to the Office for National Statistics (ONS).
The unemployment rate fell to 7.8% from 7.9%. The unemployment rate was down 0.2% to 7.8%.
A decline in youth unemployment was chiefly responsible for the fall, according to the ONS. The number of people in work increased slightly to 29.6 million. The employment rate is 71.2%
The number of people in work is at a record high of almost 30 million. This helped the employment rate rise to 71.9%. However the claimant count - the number of people claiming Jobseeker's Allowance - was down 3,000 from October to 1.58 million.
However the claimant count - the number of people claiming Jobseeker's Allowance - rose by 10,100 in October to 1.58 million.
Understanding unemployment:
  • A person is classed as unemployed if they are not only out of work, but also actively looking for work and available to start work within a fortnight
  • Unemployment figures are based on a survey carried out by the Office for National Statistics. They show the average number of people unemployed over a three-month period
  • A new survey is done every month, but comparisons are made between separate three-month periods, not overlapping ones. e.g. April-June v Jan-March, not April-June v March-May
  • The ONS also publishes the claimant count which shows the number of people receiving Jobseeker's Allowance (JSA) in a particular month. That figure comes from information supplied by the Department for Work and Pensions
  • The unemployment figure is higher than the claimant count as many jobseekers do not or cannot claim JSA
  • The two main measures can sometimes move in different directions. A change in benefits rules moving people onto JSA from another benefit, for example, would increase the claimant count without a corresponding increase in unemployment.
Background:		Understanding unemployment:
  • A person is classed as unemployed if they are not only out of work, but also actively looking for work and available to start work within a fortnight
  • Unemployment figures are based on a survey carried out by the Office for National Statistics. They show the average number of people unemployed over a three-month period
  • A new survey is done every month, but comparisons are made between separate three-month periods, not overlapping ones. e.g. April-June v Jan-March, not April-June v March-May
  • The ONS also publishes the claimant count which shows the number of people receiving Jobseeker's Allowance (JSA) in a particular month. That figure comes from information supplied by the Department for Work and Pensions
  • The unemployment figure is higher than the claimant count as many jobseekers do not or cannot claim JSA
  • The two main measures can sometimes move in different directions. A change in benefits rules moving people onto JSA from another benefit, for example, would increase the claimant count without a corresponding increase in unemployment.
Background:
Unemployment is referred to as a lagging indicator because businesses will often delay laying people off as long as they can in difficult times.Unemployment is referred to as a lagging indicator because businesses will often delay laying people off as long as they can in difficult times.
A few months after the start of the recession in 2008, unemployment started to rise sharply. When the global financial crisis hit, the unemployment rate was a little over 5% or 1.6 million.A few months after the start of the recession in 2008, unemployment started to rise sharply. When the global financial crisis hit, the unemployment rate was a little over 5% or 1.6 million.
Towards the end of 2009, with the UK coming out of its severest recession since the 1950s, it was almost a million higher at 2.5 million, or 8%.Towards the end of 2009, with the UK coming out of its severest recession since the 1950s, it was almost a million higher at 2.5 million, or 8%.
Since then firms have continued to lay off staff as the recovery has faltered. Unemployment peaked at almost 2.7 million at the end of 2011, its highest level for 17 years.Since then firms have continued to lay off staff as the recovery has faltered. Unemployment peaked at almost 2.7 million at the end of 2011, its highest level for 17 years.
The number of 16-24 year olds looking for work increased by 7,000 in the three months to July, when compared to the previous three months, but still remains over one million, or 21.6% of the workforce. Excluding those in full-time education, the figure is closer to 20.3%.The number of 16-24 year olds looking for work increased by 7,000 in the three months to July, when compared to the previous three months, but still remains over one million, or 21.6% of the workforce. Excluding those in full-time education, the figure is closer to 20.3%.
The number of unemployed women has also hit a record in recent months, even as male joblessness had begun to dip before a 0.4% rise this quarter. Economists say this mostly reflects the greater number of women in the workforce, but there are concerns about the impact of public sector cuts, where a higher proportion of jobs are done by women.The number of unemployed women has also hit a record in recent months, even as male joblessness had begun to dip before a 0.4% rise this quarter. Economists say this mostly reflects the greater number of women in the workforce, but there are concerns about the impact of public sector cuts, where a higher proportion of jobs are done by women.
Unemployment began to level off towards the end of 2011, and the beginning of 2012 saw the first fall in almost a year. The overall number of people in employment has been going up, as has the number working in the private sector.Unemployment began to level off towards the end of 2011, and the beginning of 2012 saw the first fall in almost a year. The overall number of people in employment has been going up, as has the number working in the private sector.
For some this is a positive sign of economic recovery. For others it is tied to the higher numbers of people working part-time, with record numbers only doing so because they cannot find a full-time job.For some this is a positive sign of economic recovery. For others it is tied to the higher numbers of people working part-time, with record numbers only doing so because they cannot find a full-time job.