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News - 13 December 2012

Biggest quarterly fall in unemployment for a decade


Welcome news for the Chancellor in the latest unemployment figures with more young people finding jobs.

The Office for National Statistics said unemployed 16- to 24-year-olds fell by 72,000 to 945,000 in the three months to October.

It helped drive a fall of 82,000 in the jobless total to 2.51 million - with a record number of people now in work after what the ONS said was the biggest quarterly fall in unemployment since the spring of 2001.

Despite analysts expecting an increase of 7,000, the number of people claiming Jobseeker's Allowance fell unexpectedly in November by 3,000 to 1.58 million following rises in the previous two months.

Lavinia Newman, founder of ABDS comments:
“The figures highlighted the growing gulf between public and private sector employment as public sector jobs fell for the 12th consecutive quarter, by 24,000 to 5.7 million, the lowest since 2002.”

Employment in the civil service was cut by 3,000 to 455,000, the lowest since records began in 1999, while local government employment also fell to a record low of 2.5 million after a cut of 32,000.

Lavinia continues: “Private sector employment rose by 65,000 in the latest quarter to 23.8 million, the highest on record. This has to be excellent news for the economy.”


If you need any help and advice for your business on this or any other business related matter, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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