Unemployment rate falls a little further to 8.1%

The unemployment rate in the UK dropped by 0.1 percentage points to 8.1% in the three months to July 2012, the Office for National Statistics recently reported.

Although the rate has dropped slightly (which is good news) there is a more complex picture beyond this. The number of people out of work for over a year was 904,000, the highest for 16 years, while the number in part-time work was 8.12m, the highest since records started in 1992. The number of those working part-time because they could not find a full-time post hit a record high of 1.42m.

The overall drop is however good news for the economy when we are technically in a recession or in reality flat lining.

Meanwhile, the Employment Outlook Survey released yesterday by Manpower showed a positive balance of 3% of employers looking to take on staff in the final months of 2012, following a +2% balance in Q3. The balance is calculated by subtracting the number of companies likely to lay off staff from those looking to increase headcount.

About Steve Young

Steve Young is the Managing Partner of Downtown Recruitment who are based in Thame, Oxfordshire. Downtown Recruitment provide a wide variety of temporary and permanent staff to the local area covering a wide range of disciplines across the commercial and industrial sectors. View Downtown Recruitment's main website
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