Rising to 29.73m from November to January, the number of people in employment has risen by 131,000 on the previous three months statistics. This consequently raises the employment rate to 71.5% for ages 16 to 64. However, the number of people in unemployment reached 2.52m, increasing by 7,000 in a year with claims for out-of-work benefits falling by less than anticipated.
Decreases in the claimant count and unemployment are welcome news, but whilst historical records have been broken by recent statistics, there is still cause for major concern amongst British workers.
The following top ten list has been compiled by the Annual Survey of Hours and Earnings (Ashe); derived by taking a 1% sample of an employee’s PAYE payment and working out the median gross salary. On average, £26,462 was the median gross pay for employees during 2012.
According to a report published by Aviva, 25% of 65 to 74-year-olds are remaining in work past the standard retirement age. In December 2012, one-in-four of those in this age bracket were still earning, compared to 18% just three years ago when Aviva first started the Real Retirement Report.
Business leaders are increasingly worried that more jobs and investments are being made in Scotland than the north-east of England. Being able to install more money into their economy, Scotland were able to spend 76% more on economic affairs per head of population than north-east England, during 2010-11. These areas of investment included forestry, agriculture, technology, science, fisheries, housing and transport.
By 2020 a new report suggests that those in low and middle income bands could be suffering with their living standards as incomes continue to fall. In contrast to what incomes these households were enjoying in 2008, by the end of this decade they could have fallen by as much as 15% sparking concern as to what living standards they are going to be presented with.
A group of MP’s have suggested that the new youth contract that is to be introduced by the government will not be enough to tackle the amount of youth unemployment that is seen in the UK. The new contract aims to get young people working through a variety of different schemes, costing £1billion.
There have been many feelings of unrest surrounding benefits schemes and those who are unemployed; with many taking the view that those receiving benefits should be made to work for them. Now, under new Government plans, young people are going to have to work for three months unpaid before they are entitled to their unemployment benefits.
According to the monthly survey of recruitment specialists conducted by the Bank of Scotland, the Scottish jobs market is losing the momentum it had previously had. There was seen to be a small rise in the number of people taken on in temporary positions, while less people had found a stable permanent job.