Welcome to the latest on the UK labour market covering the period January to March 2014.
Firstly looking at employment, 30.43 million people aged 16 and over were in work, this is a rise of 283,000 on the quarter and a rise of 722,000 on the year. 72.7% of people aged 16 to 64 were employed.
Next we will look at the employment rates over the period from January to March 1971 to the current period of January to March 2014, using this graph. The highest employment rate was 73.1%, between June to August and October to December 1974 and between November to January and December to February 2005. The lowest employment rate, of 65.6%, was between February to April and May to July 1983.
Turning to unemployment now, that is those not employed but seeking work, 2.21 million people aged 16 and over were out of work but seeking and available to work. This is a fall of 133,000 on the quarter and 309,000 on the year. The unemployment rate stood at 6.8%.
Now we will look at the unemployment rates over the period from January to March 1971 to the current period of January to March 2014, using this graph. The highest unemployment rate, was 11.9%, between February to April and April to June 1984. The lowest unemployment rate over the period, of 3.4%, was between October to December 1973 and November to January 1974.
Next we will look at the claimant count for April, that is those seeking work and claiming benefits principally because they are not in work. 1.12 million people aged 18 and over were claiming Jobseeker’s Allowance. This is the lowest number since November 2008 and it is a fall of 25,100 on the month and almost 400,000 on the year.
Moving down to those not in the labour force, that is those not employed and not seeking or available for work, 8.85 million people aged between 16 and 64 were either not looking for work or not available to work. This is a fall of 85,000 on the quarter and a fall of 155,000 on the year. 21.9% of people aged 16 to 64 were not in the labour force.
That was the latest on the UK labour market.