Unemployment Down, Wages Up
Figures say that unemployment is down and average wages have increased…
Small Business News – 12th September 2007
Figures from the Office of National Statistics report unemployment down and average wages up.
The proportion of people who are unemployed fell to just 5.4% in the three months up to July with number of people in employment over the same period up to 29.1 million, the highest employment figure since employment figures started being recorded in 1971.
Employment figures were up 84,000 compared to the previous quarter and 132,000 overall for the year so far.
The number of job vacancies has increased coupled with the amount of people claiming Jobseeker’s Allowance benefit falling.
Whilst employment is over 29 million the small proportion of unemployed still amounts to 1.65 million people, the trend indicating a strong labour market with record numbers of people in work.
Conversely this fall in unemployment/rise in employment has gone hand-in-hand with growth in average earnings (including and excluding bonuses)