UK Unemployment figures Sept 08

Labour Market Statistics
Well, the unemployment rate rose to 5.7% - up 0.5% over the quarter and 0.4% on last year. 29.4 million people were in work in the period June to August according to the labour force survey (LFS). The downturn in the economy is now having an impact on employment figures - down by 122,000 on the quarter, but up by 199,000 on the last year.

The working age employment rate is 74.4% - down 0.4% on the last quarter and down 0.1% on the last year.

International Labour Organization-defined unemployment in June to August was 1.8 million (5.7%) - up by 164,000 unemployed on the quarter and 146,000 from this time last year.

The claimant count for key out-of-work benefits was 939,900 in September - up by 31,800 on the previous month and 104,900 on last year.

Earnings growth over the year to August (including bonuses) was 3.4%, down by 0.1% on the previous month.

Tony McNulty, Employment Minister said:

"The UK has one of the strongest labour markets in the developed world, which along with the world class service provided by Jobcentre Plus is geared up to deal with the current global economic difficulties. There are still jobs available, with more than 600,000 vacancies across the country."

"In addition to the support from Jobcentre Plus a further £100m will be made available to help people who lose their jobs, as the UK stands up to the challenges of the global economic climate. The extra cash will help unemployed people and those facing redundancy retrain and develop their skills so they can quickly move back into sustainable employment.

"The money will be carefully targeted, for example on people from sectors experiencing significant job losses and on people who need support to move back into work.

"The new money we are announcing today will help fund training and support so that we can ensure people facing redundancy can access these vacancies and get back to work quickly."

John Philpott, CIPD Chief Economist commented:

"It's been an awful autumn so far for the economy and the jobs market is now being crunched. Today's official figures are dire - the 122,000 quarterly drop in the number of people in work and the 164,000 quarterly rise in unemployment underline the severity of the emerging jobs crisis. With a recession now almost certainly already underway we face the prospect of a woeful winter. If today's figures are a guide to what happens next, claimant unemployment will probably top 1 million by Christmas with unemployment on the government's preferred survey based measure heading for 2.25 million by next Easter at the latest. And that's likely to be the best we can hope for.

So, we're feeling a bit sorry for ourself in the UK overall...... the good news is that for talented individuals who are able to adapt their career focus, there will always be a role and a career step. You just need to do your research, ask the question "what are the skills an employer needs TODAY". You just can't live in the past!

My advice - keep networking..... build relationships with people you have never met.... be flexible and be willing to change with the times.