The latest figures released by the Office of National Statistics look to be positive with unemployment falling by 154,000 in the three months to August to 1.97 million, with the jobless rate falling by more than expected to 6% – its lowest level since October 2008. In fact 2014 has seen the biggest annual reduction since records began in 1972 (Sky News 2014).
Cost of living
However the figures also highlighted continuing concerns about a lack in wage growth, measured at just 0.7% on an annual basis between June and August. It means that earnings are still struggling to keep up with inflation despite annual living cost increases being calculated at just 1.2% (Sky News, 2014).
And despite the jobless total falling, the ONS stats revealed that growth in employment had slowed to its weakest pace since May 2013, though it took the total number in work to a new UK record of 30.7 million.
Youth unemployment figures also continue to improve; There were 162,000 unemployed 16-and-17-year-olds in the last quarter, down by 11,000 on the previous three months.
New Roles From Orbital
At Orbital we are continually working to contribute to the falling unemployment figures by offering a wide range of temporary and permanent positions. Apply online now or call our dedicated recruitment team on 0333 323 2121