Record UK payrolls services announced

The ONS has announced another record UK payrolls number in employment.

Comparing the Office of National Statistics estimates for the three months ending January 2015 with those for August to October 2014, employment continued to rise and unemployment continued to fall. These changes maintain the general direction of movement since late 2011/early 2012.

There were 30.94 million people in work- 143,000 more than for August to October 2014 and 617,000 more than for a year earlier.

There were 22.64 million people working full time, 481,000 more than for a year earlier. There were 8.30 million people working part -time, 137,000 more than for a year earlier.

The number of self employed people rose by 33,000 to reach 4.53 million.
The proportion of people aged from 16 to 64 in work (the payrolls employment rate) was 73.3%- the highest since comparable records began in 1971.

There were 1.86 million unemployed people, 102,000 fewer than for August to October 2014 and 479,000 fewer than for a year earlier.

The proportion of the economically active population who were unemployed (the unemployment rate) was 5.7%, lower than for August to October 2014 (6.0%) and for a year earlier (7.2%). The economically active population is those in work plus those seeking and available to work.

There were 9.03 million people aged from 16 to 64 who were out of work and not seeking or available to work (known as economically inactive), 30,000 fewer than for August to October 2014 but 14,000 more than for a year earlier.

The proportion of people aged from 16 to 64 who were economically inactive (the inactivity rate) was 22.2%, little changed compared with August to October 2014 and with a year earlier.

Comparing the three months ending January 2015 with a year earlier, pay for employees in Great Britain increased by 1.8% including bonuses and by 1.6% excluding bonuses.

The number of people claiming Jobseeker’s Allowance also fell to 791,200, its lowest level since 2008.

Average earnings in the three months to January, including bonuses, rose 1.8% compared with a year earlier.

Regular pay, which excludes bonus payments, rose by 1.6%, in the same period compared with a year ago.

The Chancellor of the Exchequer- Mr Osborne hailed the latest employment figures, claiming they marked another “economic milestone” and “confirmed a new record high employment rate, alongside a claimant count that has not been lower since 1975″.

Mr Osborne said: “This good news is further proof that the government’s long term economic plan is working and that British families are seeing the results, with regular wages rising more than five times faster than prices.”

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