This is a short video looking at the latest on the UK labour market in October 2012.
It will cover June to August 2012, compared to March to May 2012.
We will show the level and the rate, and unemployment was down 50,000 to 2.53 million, with a rate of 7.9 per cent.
Employment for everyone aged 16 and over was 29.59 million, up 212,000, and 71.3 per cent of people aged 16 to 64 were in work. Inactivity was 9.04 million, down 138,000, and around 22.5 per cent of people aged 16 to 64 were inactive.
Finally, the claimant count, a count of people claiming Jobseeker’s Allowance, in September 2012, was down 4,000 on August 2012 to stand at 1.57million. And the claimant count rate stood at 4.8 per cent.
Now we will look at changes in employment and as shown earlier, employment stood at 29.59 million an increase of 212,000 on March to May 2012.
Using these characters which represent the 212,000 increase, using blue for males and pink for females, we can see that male employment increased by 94,000, and female employment increased by 118,000.
Focusing now on the male employment increase, the characters highlighted in red are those that have entered full time employment and total 80,000. Those in green, equalling 15,000, are the increase in part time workers.
Turning are attention to the female employment increase, the increase in full time workers, again highlighted in red, equals 8,000, whereas the part time increase, highlighted in green, equals 110,000.
Combining the increases of male and female employment we can see that full time workers have increased by 88,000 and part time workers have increased by 125,000. As a result it is clear that the increase in full time workers is driven by men and the part time increase is driven by women.
Now we will look at the patterns of unemployment using this graph. The blue line shows the pattern of unemployment from 1971 until the latest period of June to August 2012.
The three green bars highlight the periods of recession during the last four decades. Focusing on the current recession we can see that unemployment at the onset of the recession was 1.67 million. The peak of unemployment since the recession was 2.68 million in September-November 2011. Despite being the peak it is still lower than the peaks of unemployment following the two previous recessions in the 1980’s and 1990’s as illustrated by the dotted line. Also the population has increased over the period so there are more people of working age. The current level of unemployment for June to August 2012 is 2.53million.
So the increase in unemployment from the start of the recession in April-June 2009 to the peak of unemployment in September-November 2011 was 1 million. This chart shows that of this 1 million, 565 thousand were male and 436 thousand were female.
If we now look at this increase by age using this chart, we can see that almost a third of the increase is in the youngest age group of 16-24. The age groups of 25-34 and 35-49 saw increases of 266 thousand and 215 thousand respectively. Finally the 50 and over age group saw an increase in unemployment of 195 thousand.
Turning our attention to the period from the peak of unemployment in September-November 2011 till the current period June-August 2012 we can see that the decrease in unemployment is 148 thousand. Of this decrease, the doughnut shows that 103 thousand were male and 45 thousand were female.
Looking at the decrease by age groups using this chart, we can see that over half of the decrease is for the 16-24 year old age group. The other three age groups have seen similar levels of decrease, with the 25-34 year olds decreasing by 24 thousand, the 35-49 group by 18 thousand and finally the 50 and over group by 23 thousand.