ONS Reports 0.3% Improvement in UK Jobs Market
The Office for National Statistics (UK) has just revealed the latest figures on employment rate in the country. They suggest that the number of people who have found a new job in the time period between the first and the second quarter of 2010 rose by 0.3% or 184,000. This is the first increase, which compares to the one seen in 1989.
According to ONS statistics, 70.5% of British population is now employed. The largest increase in employment rate was due to part time workers, who brought the unemployment rate down by 507,000 compared to 2008.
Meanwhile, the long-term unemployment rate rose as 33,000 people have been unemployed for longer than 1 year.
Currently, 2.46 million Brits are out of work. Commenting on the overall positive trend in the labour market, experts of Capital Economics say that they are concerned that the slowdown in the recovery of UK economy is spreading onto the jobs market. As such, July saw only a slight improvement in employment rate with 3,800 people finding new jobs.