UK unemployment rate goes down ahead of Olympics

Written on:July 18, 2012
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Olympic Park

London 2012 Olympics fosters job creation

According to Office for National Statistics, unemployment rate has fallen for the fourth month in a row, by 65,000 to 2.58 million, standing at 8.1%, down by 0.2%, with more jobs being created especially for those above 65 years of age.

Most age groups showed increases in employment, with a rise of 52,000 in over-65s in work to reach 929,000, the highest since records began in 1992. Owing to the Olympic Games, the number of vacancies increased by 10,000 in the quarter to June to 471,000.

A new delivery office opened in London by TNT, which said it planned to create 20,000 new jobs across the UK in the next five years. Around 70 new posts have been created at the new office as part of a pilot scheme delivering post to households and businesses in west London.

Long-term unemployment increased with those jobless for more than two years reaching 441,000, which is the worst figure since 1997. The number of people out of job for more than an year rose by 3,000 to 885,000, and there were just over a million unemployed people aged between 16 and 24, which is a decrease of 10,000, on the three months to February.

The monthly figures showed that the total number of jobless fell by 65,000 to 2.58 million, the lowest level for almost a year, while the number of people in employment increased by 181,000 to just under 30 million, the highest level for almost four years.

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