Labour Market update - January 2017 Learning and Work briefing

Learning & Work have published the January Labour Market Statistics update:

The labour market figures published on 18 January are at first sight another set of concerning figures. However, there are perhaps some more positive signs in the numbers.

  • Unemployment is 1,604,000, down 12,000 from last month’s published figure (quarterly headline down 52,000) and the unemployment rate is 4.8%, no change on last month and down 0.1 percentage points on last quarter.
  • The number of claimant unemployed is 797,800, down 10,100 on last month, and the claimant rate is 2.3%.
  • The number of workless young people (not in employment, full-time education or training) is 1,014,000, down 5,000 on the quarter, representing 14.1% of the youth population (down 0.1 percentage points).
  • Youth unemployment (including students) is 573,000, down 52,000 on the quarter. There are 2.1 unemployed people per vacancy. Learning and Work Institute estimates this figure may rise next month.
  • The employment rate is 74.5% (up 0.1 percentage points on last month’s published figure and down 0.1 percentage points in the preferred quarterly measure).