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UK – Unemployment drops by 37,000

23 January 2013

The number of people out of work dropped by 37,000 between September and November from the previous quarter to 2.49 million, the lowest total since the March to May period in 2011.

New figures from the Office for National Statistics (ONS) also showed that the joblessness rate stood at 7.7% in the period, down -0.1% from the previous three months and down -0.7% from a year ago.

Employment levels between September and November improved to 71.4%, up +0.1% from the previous quarter and up +1.1% on a year earlier. There were 29.68 million people in employment at the time.

The statistics also showed that the number of people in full-time employment increased by 113,000, offsetting a fall in part-time employment of 23,000.

While a rise in employment and a fall in unemployment are welcome news, a number of High Street chains in the UK have recently gone bust.

Kevin Green, chief executive of the Recruitment and Employment Confederation (REC) said: “It would be easy to get distracted by recent headlines around the big high street names such as Comet, HMV and Jessops going under, but the fact remains that the UK jobs market is continuing to improve, the overall trend is one of job creation and we are outperforming our European neighbours.

“Some industries are shifting priorities, which leads to job losses in certain specialisms but job creation in others. A good example is the finance sector which has suffered pretty heavy job losses recently but banks are still advertising for new recruits in areas like compliance, regulation and risk assessment.

“Recruiters are right there at the front line of the jobs market and the regular feedback they give us is that employers continue to hire. Small businesses don’t make national headlines but they are where the majority of job creation is going to come from,” he said. 

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