UK Unemployment Falls To 1.86m

An Additional 102,000 People In Work In Three Months To January

18.03.2015

The number of people out of work in the UK fell by 102,000 in the three months to January, bringing unemployment numbers down to 1.86 million.
 
Official figures from the Office of National Statistics (ONS) show that although the unemployment rate remains at 5.7%, the number of people in work across the UK is currently at the highest it has been for six years.
 
The rise in employment comes with the announcement that wages have shown the strongest rise since before the financial crisis. Average earnings, including bonuses, rose 1.8% in the quarter. Regular pay rose by 1.6%.
 
However, unemployment in Scotland alone rose by 6,000 across the same period, with the unemployment rate standing at 5.9%, slightly above the rate for the whole of the UK. In Wales, the unemployment rate is currently higher still at 6.7%.
 
David Kern, chief economist at the British Chambers of Commerce, said: "The latest figures highlight the flexibility and resilience of the UK labour market.
 
"The growth in employment and fall in unemployment are stronger than a month ago and point to improved momentum in the economy after a weaker patch last year."

Expert Opinion
These figures are a very positive sign and a great indicator of how the economy is continuing to improve. With more and more people being hired into positions, it is vital that businesses ensure their houses are in order from a HR and recruitment standpoint.

"The need for the right policies from an employment law perspective cannot be downplayed, with such guidance giving new recruits a good understanding of an employer’s values and exactly what is expected of them. Failing to have such regulations in place could have a major impact on developing an engaged and motivated workforce."
Fergal Dowling, Partner