Unemployment falls, Employment increases

Mallotum_X

Unemployment in the UK has continued to fall and the number of people in work has continued to rise, according to the latest official figures.

The number of people out of work in the January to March period fell to 1.83 million, down 35,000 from the previous quarter and the lowest for seven years.

At the same time, the total number in work rose to 31.1 million.
Average pay for employees, excluding bonuses, rose by 2.2% in the quarter compared with a year earlier.

Including the effect of bonus payments, average pay rose by 1.9% over the same period.

The figures mean that regular pay is now growing at its fastest rate for nearly four years.

It is also the seventh month in a row that the rate of regular pay increases has outstripped the prevailing annual rate of inflation, as measured by the consumer prices index.

But not all Wednesday's economic news was good. The Bank of England cut its 2015 growth forecast from 2.9% to 2.5%, and for next year from 2.9% to 2.6%, as governor Mark Carney unveiled his quarterly inflation report.

http://www.bbc.co.uk/news/business-32719779

antrobus

What again?

Can't we have something interesting happen with the unemployment figures aside from them going down all the time.

...But not all Wednesday's economic news was good. The Bank of England cut its 2015 growth forecast from 2.9% to 2.5%, and for next year from 2.9% to 2.6%, as governor Mark Carney unveiled his quarterly inflation report.

I suspect that is the impact of the 'disappointing' Q1 numbers. All those bl00dy opinion polls I expect. If they'd all have been showing a 6 point Conservative lead like they should have done, I suspect people would not have been so cautious.:)

patman99

A lot of the new jobs are low-paid, low productivity jobs that contribute little or nothing to the economy.
Meanwhile, the low-paid worker will be claiming HB & WTC in order to make the job pay.

Thrugelmir

patman99 wrote: »

A lot of the new jobs are low-paid, low productivity jobs that contribute little or nothing to the economy.

What precisely are the untrained, less well uneducated element of the workforce going to do then. Plenty of people around the world who are happy to do these low paid jobs for a fraction of the money. Low paid doesn't equate to low productivity either. Being well paid doesn't mean that someone works any harder. If anything the converse in the public sector.