Bookkeeping and Accountancy Services Demand at Record levels

Demand for bookkeeping, accountancy and business services are at record levels.

Demand for bookkeeping, accountancy and business services are at record levels.

According to the Office for National Statistics’ latest research the UK unemployment rate fell to 4.4% in the 3 months to June 2017 – the lowest it has been since 1975.

The employment rate reached a new record high of 75.1% and the inactivity rate fell to a new record low of 21.3%.

Real average weekly earnings fell by 0.5% in the 3 months to June 2017, both excluding and including bonuses as consumer price inflation continued to outpace growth in wages.

Estimates from the Labour Force Survey show that, between January to March 2017 and April to June 2017, the number of people in work increased, the number of unemployed people fell, and the number of people aged from 16 to 64 not working and not seeking or available to work (economically inactive) also fell.

There were 32.07 million people in work, 125,000 more than for January to March 2017 and 338,000 more than for a year earlier.

Estimates from the Labour Force Survey show that, between January to March 2017 and April to June 2017, the number of people in work increased, the number of unemployed people fell, and the number of people aged from 16 to 64 not working and not seeking or available to work (economically inactive) also fell.

There were 32.07 million people in work, 125,000 more than for January to March 2017 and 338,000 more than for a year earlier.

UK employment rate reaches a new record high

Estimates from the Labour Force Survey show that there were 32.07 million people in work in the 3 months to June 2017, which was 338,000 more than for a year earlier and 125,000 more than for January to March 2017. There was an increase in full-time employment (up 91,000) to a record high of 23.58 million and part-time employment (up 34,000) to 8.49 million compared with 3 months ago.

There was an increase in the number of people in self-employment (up 21,000) since the 3 months to March 2017. By age category, there were increases in the number of employees for three age groups: 25 to 34, 35 to 49 and 50 to 64.

The level of employment decreased for three age groups: 16 to 17, 18 to 24 and 65 and over. The employment rate was 75.1% in the 3 months to June 2017, the highest since comparable records began in 1971.

UK unemployment rate falls to its lowest since 1975

The unemployment rate declined by 0.2 percentage points in the 3 months to June 2017 compared with 3 months ago to 4.4%, its lowest since 1975. The total unemployment level decreased by 57,000 compared with 3 months ago to 1.48 million. Unemployment decreased for three age groups: 16 to 17, 25 to 34 and 35 to 49, it increased for three age groups: 18 to 24, 50 to 64 and 65 and over. A fall in unemployment was accompanied by a fall in inactivity.

Total inactivity level decreased by 64,000 since the 3 months to March 2017 to 8.77 million. The inactivity rate for 16 to 64 year olds decreased by 0.2 percentage points since 3 months ago to a record low of 21.3%. Inactivity decreased for three age groups: 18 to 24, 25 to 34 and 35 to 49 and increased for three age groups: 16 to 17, 50 to 64 and 65 and over. The next section analyses some longer-term trends in economic inactivity.

Which means the growing burden of payrolls, pensions payments and administrative burden on businesses here in Cheltenham, Gloucestershire and the South West has never been greater.

So if you would like some help with your payroll calculations for your organisation from someone with several decades of financial experience here in Gloucestershire you can either ring us now on  – email us on edith@esbaccountancy.co.uk or click the Contact Us buttonpayroll bookkeeping services small business help contact esb accountancy gloucestershire cheltenhamor please fill the form at the bottom of the contact us page.

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