© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - (UK) Unemployment Back to Pre-Crisis Levels
Posted 20th April 2015

(UK) Unemployment Back to Pre-Crisis Levels

The last official data on employment and earnings before the general election revealed that unemployment has fallen by 76,000 to 1.84m, pushing the unemployment rate down to 5.6%.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

(UK) Unemployment Back to Pre-Crisis Levels
Image

Unemployment Back to Pre-Crisis Levels

The last official data on employment and earnings before the general election revealed that unemployment has fallen by 76,000 to 1.84m, pushing  the unemployment rate down to 5.6%.

This is the lowest in nearly seven years – the rate was last this low in June 2008. Meanwhile the number of people in work has risen by 557,000 over the past year, hitting a new record high above 31m. Of the new jobs created in the past twelve months, more than four-fifths are full-time positions.

These statistics compare favourably with the UK’s developed world peers. The unemployment rate is almost as low as in the US (widely praised by economists for its flexible labour market), where unemployment hit 5.5% in February. In the euro zone, the rate is more than double the UK’s at 11.3%.

Wages continue to grow at a steady, if unspectacular pace – in the three months to February pay was 1.7% higher than a year earlier including bonuses, and 1.8% higher excluding bonuses. With inflation remaining at 0%, the squeeze on household budgets continues to ease. After a long period of earnings falling in real terms, living standards are now rising.

The Bank of England has previously said that it wants to see a marked increase in pay before judging that sufficient labour market slack has been eroded for interest rates to rise. If pay growth continues to improve, this removes a key barrier to higher interest rates. In its February Quarterly Inflation Report the Bank raised its wage growth forecast for 2015 to 3.5%. This looks optimistic to me, and given the subdued outlook for inflation, I expect rates to remain at 0.5% well into 2016.

Categories: Strategy


You Might Also Like
Read Full PostRead - Eye Icon
Empowering Women in Finance and Demystifying the Landscape As Saxo Sees 57% Surge in Female Clients Following Lower Pricing Strategy
Finance
07/03/2024Empowering Women in Finance and Demystifying the Landscape As Saxo Sees 57% Surge in Female Clients Following Lower Pricing Strategy

As the financial sphere continues to be rocked by the effects of lockdowns, subsequent supply chain disruptions, an energy crisis and the long-forgotten notion of inflation, Camilla Dahl Hansen, Chief Experience Officer at Saxo Bank, argues now is the time to

Read Full PostRead - Eye Icon
Tristan Capital Partners acquires logistics park in Germany for €31 million
Finance
01/04/2015Tristan Capital Partners acquires logistics park in Germany for €31 million

An fund advised by pan-European real estate investment manager Tristan Capital Partners has purchased a 24.3-hectare logistics park

Read Full PostRead - Eye Icon
Copart Expands Operations in the Middle Eas
Strategy
13/04/2015Copart Expands Operations in the Middle Eas

Copart, a leading online vehicle auction company, today announced the opening of its second facility in the Middle East.

Read Full PostRead - Eye Icon
Ones to Watch for 2016: The Best Boutique Law Firms
Legal
01/07/2016Ones to Watch for 2016: The Best Boutique Law Firms

Enyo Law LLP is a law firm that acts exclusively in complex and high-value disputes whether litigation or arbitration.

Read Full PostRead - Eye Icon
Your Helping Hand in Real Estate Purchases
Innovation
21/08/2023Your Helping Hand in Real Estate Purchases

NewHomesMate (previously Propertymate.ai) is a comprehensive marketplace that helps builders sell their new homes faster – going direct to eager buyers.

Read Full PostRead - Eye Icon
Hybrid Working Could Lead to Discrimination and Lack of Diversity Warns Firm Of Business Psychologists
Leadership
30/04/2021Hybrid Working Could Lead to Discrimination and Lack of Diversity Warns Firm Of Business Psychologists

Leading Cambridge firm of business psychologists, OE Cam, is urging businesses to consider the unintended impact of hybrid working. Their modelling suggests that planned policies will likely lead to greater discrimination and a lack of diversity within organis

Read Full PostRead - Eye Icon
8 Tips for a Successful Career in EdTech
News
26/01/20248 Tips for a Successful Career in EdTech

The educational technology (EdTech) sector is rapidly transforming the landscape of learning and teaching across the globe. With advancements in technology continually emerging, the demand for skilled professionals in this field is growing exponentially. Wheth

Read Full PostRead - Eye Icon
The IT Industry In The US And How It Offers Considerable Growth And Opportunities
News
24/03/2020The IT Industry In The US And How It Offers Considerable Growth And Opportunities

With more and more businesses now looking for new opportunities to expand and grow their business, it may be that some will look to expand their business in new countries and the US presents one of the best opportunities for growth in the IT industry. Accordin

Read Full PostRead - Eye Icon
Finance Options for Your Swiss Property Purchase
Finance
30/06/2023Finance Options for Your Swiss Property Purchase

One might not immediately consider Switzerland when thinking about lucrative international property investments, yet this gem of a country offers a thriving hotel market that can deliver impressive returns.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow