ONS Reveals New Unemployment Figures
Written by Geoff Newman on 7/20/2012
The latest unemployment figures in Britain have been revealed by the Office for National Statistics (ONS), indicating positive movement in the jobs industry. Recruitment agencies will welcome news that the quarter to May 2012 saw a 65,000 decline in the number of people out of work, with total unemployment dropping to 2.58 million and employment rising.
For the three months to May, it was shown that the actual number of individuals who are employed in Britain rose to 29.35 million, an increase of 181,000. Youth unemployment fell by 10,000, dropping to 1.02 million. Meanwhile, it was shown that Scotland continued to do better than the rest of Britain, with an additional 9,000 job positions filled by those working north of the border.
With the London Olympics only days away, IHS Global Insight economist Howard Archer explained that the sporting event was having a positive effect on the UK. “It is evident that restrained earnings growth as well as significant increases in part-time jobs and self-employment is helping to keep unemployment down. In addition, the imminent holding of the Olympic Games is currently providing a boost to employment,” he revealed.
For recruitment agencies the news is very positive, indicating that there will be more positions to fill over the coming months. As business confidence grows and companies look to expand and develop their services, it is likely that unemployment rates are set to fall further through the rest of 2012.