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Economy tracker: Unemployment Economy tracker: Unemployment
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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 14,000 to 2.5 million in the three months to December, according to the Office for National Statistics. The number of people out of work rose by 7,000 to 2.52 million in the three months to January, according to the Office for National Statistics.
The unemployment rate was 7.8%, of the economically active population, down 0.1% on July to September 2012. The unemployment rate of 7.8% of the economically active population was unchanged from the previous quarter.
The number of people in work increased to 29.73 million. The number of people in work increased by 131,000, to 29.73 million.
The claimant count - the number of people claiming Jobseeker's Allowance - fell 12,500 to 1.54 million in January. The claimant count - the number of people claiming Jobseeker's Allowance - fell 1,500 to 1.54 million in February, the lowest level since June 2011.
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 peaked at over one million. In the three months from October to December 2012, there were 974,000 looking for work - an unemployment rate of 20.8%, virtually unchanged from the previous quarter. The number of 16-24 year olds looking for work peaked at over one million. In the three months from November 2012 to January 2013, there were 993,000 looking for work - an unemployment rate of 21.2%, up 0.9% from August to October 2012.
The number of unemployed women was 1.09 million for October to December 2012, up 2,000 from the previous quarter. Economists say this mostly reflects the greater number of women in the workforce, partly because of changes in the state pension age for women, 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.