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UK unemployment market falls to its lowest level for more than a year

Industry Sector

Business Services

Published

14 November 2012

Author

Matt Bodimeade

Type of News

General

The UK unemployment market has seen the total number of people out of work in the UK fall to its lowest level for more than a year.

In the three months to September, the unemployment rate fell by 49,000 to 2.51 million, taking the jobless rate to 7.8% from 7.9%. The Office for National Statistics said that almost all the 49,000 fall was due to a decline in youth unemployment.

The total within the UK unemployment market is now 110,000 lower than for the July-September quarter last year, the ONS said. The number of people in work increased by 100,000 in the latest quarter to just under 30 million, a rise of more than half a million over the past year.

Recent research highlights the effects of the UK government's spending cuts and exposes regional inequalities in the country's labour market.

The London 2012 Olympics has been hailed as a contributing factor to the reduction of unemployment rates in the UK.

London accounted for 5,500 of the fall in the number of people claiming Jobseeker's Allowance, suggesting a jobs boost from London 2012, as companies increased hiring rates to cope with the busy period. The workforce in the capital also increased by 91,000 ahead of the Games, which formed a significant part of the overall 236,000 rise in people in work.UK Unemployment

Despite the decrease over the three-month period, there was an increase of 10,000 in the number of people claiming unemployment benefits in the month of September.

For more information on the UK unemployment market, see the latest research: Employment Reports

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