Independent Financial Life Planners Bishop's Stortford: RECORD NUMBER OF PEOPLE NOW IN WORK

Tuesday, 6 September 2016

RECORD NUMBER OF PEOPLE NOW IN WORK

Between April and June 2016, with 31.75 million people working, 23.22 million of those in full-time employment and 8.53 in part-time, the employment rate (for those aged from 16 to 64 years) in the UK has hit 74.5%. This is the highest rate seen since comparable records began back in 1971.

Of the unemployed, there were 1.64 million people, which is a rate of 4.9% and 52,000 less than the previous quarter and 207,000 lower than a year earlier. Again the lowest figure seen since the March to May quarter of 2008.

On the wages front, average weekly earnings including bonuses rose by 2.4% and those excluding bonuses rose by 2.3% although these figures are not adjusted for price inflation. The average total pay employees earned was £501 per week in the April to June quarter.

ONS statistician David Freeman commented: “The labour market continued on a strong trend in the second quarter of 2016, with a new record employment rate.

“However, little of today’s data cover the period since the result of the EU referendum became known, with only claimant count and vacancies going beyond June-July for the former and to May-July for the latter.”

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

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