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16/08/2006
UK unemployment rate continues to rise
Unemployment is continuing to rise in the UK, according to the latest figures from the Office for National Statistics.
The latest figures revealed that the number of people claiming unemployment benefit rose to 957,000 in July, an increase from 2,000 on the previous month and up 90,900 on the year.
The unemployment rate also rose to 5.5%, up 0.3% over the quarter and 0.7% over the year, with the number of unemployed people increasing by 92,000 over the quarter and by 243,000 over the year to reach 1.68 million.
However, the ONS also said that the number of people in employment for the three months ending in June 2006 was 28.94 million, up 42,000 over the quarter and up 240,000 over the year.
Growth in average earnings also increased. The annual rate of growth in average earnings, excluding bonuses, was 3.9% in June 2006, an increase of 0.1% from the previous month, while earnings including bonuses increased to 4.3%, an increase of 0.2% from the previous month.
The number of job vacancies have also increased. The average number of job vacancies for the three months to July 2006 was 603,900, which was up 7,600 on the previous quarter but down 21,900 over the year. The sector showing the largest increase over the quarter was Finance and Business Services which increased by 10,700.
The redundancy rate for the three months to June 2006 was 5.6% per 1,000 employees, a decrease of 5.8% from the previous quarter.
(KMcA)
The latest figures revealed that the number of people claiming unemployment benefit rose to 957,000 in July, an increase from 2,000 on the previous month and up 90,900 on the year.
The unemployment rate also rose to 5.5%, up 0.3% over the quarter and 0.7% over the year, with the number of unemployed people increasing by 92,000 over the quarter and by 243,000 over the year to reach 1.68 million.
However, the ONS also said that the number of people in employment for the three months ending in June 2006 was 28.94 million, up 42,000 over the quarter and up 240,000 over the year.
Growth in average earnings also increased. The annual rate of growth in average earnings, excluding bonuses, was 3.9% in June 2006, an increase of 0.1% from the previous month, while earnings including bonuses increased to 4.3%, an increase of 0.2% from the previous month.
The number of job vacancies have also increased. The average number of job vacancies for the three months to July 2006 was 603,900, which was up 7,600 on the previous quarter but down 21,900 over the year. The sector showing the largest increase over the quarter was Finance and Business Services which increased by 10,700.
The redundancy rate for the three months to June 2006 was 5.6% per 1,000 employees, a decrease of 5.8% from the previous quarter.
(KMcA)
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