We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Secured Loans > Number of jobless falls to lowest rate since 2008

Number of jobless falls to lowest rate since 2008

20th April 2015 | Published by Evo Money

Unemployment in the UK has fallen to its lowest rate since the financial crisis of 2008, official figures show.

According to the Office for National Statistics (ONS), the number of people without paid employment fell by 76,000 during December, January and February, to 1.84 million. This puts the unemployment rate at 5.6 per cent, 1.3 per cent lower than in March 2014 and 7.9 per cent lower than in May 2010, when the Coalition government took power. The number of people claiming Jobseeker’s Allowance dropped by 20,700 during March of this year, to 772,400, the ONS revealed.

A senior economist at Capital Economics, Samuel Tombs, said that he expects unemployment figures to continue to drop over the coming months.

The strong unemployment figures helped to strengthen the pound against the dollar, with sterling reaching its highest rate in four weeks.

The number of people in work increased to 31.05 million, a rise of 248,000 in a three month period and the biggest such rise of the last twelve months. The number of unemployed young people aged between 16 and 24 fell to 742,000, a drop of 22,000 during the three months to February. Long term unemployment is also down by 188,000.

Unemployment is currently lowest in the south east of England, at 4.2 per cent and highest in the North East, where it is 7.7 per cent.

Average weekly earnings also increased by 1.8 per cent over the last twelve month period, although they dropped by a percentage point between January and February. Chief economist at Markit, Chris Williamson, said that the upturn in real wages is a significant factor in the UK’s recent economic recovery. Consumer spending is up but there are uncertainties about how long this can last.

Category: Money
This post was written by Evo Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
© 2024 Evolution Money | Cookies | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution