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Thursday, January 17, 2008

UK unemployment continues to fall



Analysts say the strength in labour market is unlikely to continue UK unemployment fell by 13,000 between September and November to stand at 1.65 million, government figures show.
The Office for National Statistics (ONS) said the number of people claiming jobseeker's allowance in December fell by 6,400 to 807,700.

This was the lowest number since 1975 and the 15th consecutive monthly fall in the number of claimants. Analysts said the data suggested the UK job market remained robust despite expectations of an economic slowdown.

"UK labour market data for December showed that the increasing doom and gloom on the economy is not yet hurting the labour market," said Alan Clarke at BNP Paribas.
The labour market lags activity and survey indicators are already pointing to a standstill in hiring growth Alan Clarke, BNP Paribas
However, there are worries that the strength in the labour market may fade as growth slows.

This Article is relevant because it shows that The UK's economy is currently on the rise. This is also the lowest unemployment level in the UK since 1975 which is a very intriguing number.

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