Uk unemployment figures decrease unexpectedly into 2018

According to recent figures released by the ONS, the latter part of 2017 into early 2018 has shown a surprise fall in unemployment numbers.

The measure of the British working population, who in fact are looking for work but do not have it, is classed as the headline unemployment rate. This rate dropped from 4.5% to 4.3% which is a reversal of a trend that was seen only one month previously.

The other side to the was that while unemployment fell, employment increased and there were over 32 million people at work which is an increase of 170,000 from the previous quarter. The ONS stated that the overall rate of employment was 75%, and that there are 1.45 m individuals classed as unemployed in the Uk over the same period, which is an increase of 24,000 from Aug to oct 2017.

Mat Hughes, a top statistical analyst at the Office National Statistics stated “unemployment and employment levels both increased in the quarter, and employment rates returned to its joint highest, ever, while individuals classed as economically inactive, also fell by the highest number in the past 5 years”