Scottish Unemployment Down by 15,000

July 15, 2015

The number of Scottish men and women who are unemployed fell by 15,000 in the three months from the beginning of March to the end of May.

According to the latest official numbers, there were 152,000 people in Scotland classed as being unemployed by early June, with that figure representing a drop of 32,000 from the same point of the year in 2014.

The Scottish government has welcomed the figures and expressed a particular satisfaction in seeing a fall in levels of youth unemployment around the country, which reached a new six-year low in the second quarter of the year.

“These figures show a growing economy and falling unemployment – both extremely encouraging indicators and signs that the economic picture in Scotland is continuing to improve,” said Annabelle Ewing, a Scottish minister for youth and women’s employment.

“The 20,000 fall over the year in youth unemployment also means 20,000 more young people are now benefitting from the rewards and opportunities of work – something we are determined to improve on even further,” she said.

Scotland’s unemployment rate now sits at 5.5 per cent of the overall work-age population, with the number of people who are employed nationwide reportedly having risen by roughly 1,000 in the second quarter.

By most measures Scotland appears to be outperforming the rest of the UK when it comes to employment with the overall number of Britons registered as being unemployed rising by 15,000 between March and June.

Ms Ewing noted that Scotland has seen particularly strong performance within its construction sector in recent quarters, with the Scottish economy as a whole currently growing at a quarterly rate of 0.6 per cent.

“As our economy continues to grow, we will use every power we currently have at our disposal to grow the economy even further, increase employment, lower unemployment and remove barriers to the labour market,” she said.

Meanwhile, the UK government’s Scottish secretary David Mundell suggested that reduced unemployment in Scotland represents a vindication of the Conservative Party’s economic policies and its efforts to create a “better more prosperous future for the whole of the country”.

How can I build my personal credit score?

6th March 2019

Your personal credit score plays an important part in securing new loans and credit, and can affect your financial life for better or worse. Lenders use the information in your credit file to determine whether you present a high risk of default, and if your credit score is low, you may find it difficult to […]

Read more

Could a Credit Union help with my cash flow problems?

5th March 2019

Credit unions offer a range of financial products including current accounts, savings accounts, and loans, and can be a good alternative to banks and building societies whilst also helping your cash flow. There are credit unions all around the UK, almost 100 of them operating in Scotland. They’re not always widely advertised, however, and although […]

Read more

Help – my monthly outgoings exceed my income

4th March 2019

It’s a worrying situation when you realise your outgoings exceed your income, and it can be difficult to prevent debt in this situation, but there are solid steps you can take to get back on track – you just need to act quickly. Increasing your income or reducing the money going out are essentially what […]

Read more

Benefits and tax credits when you’ve lost your job

1st March 2019

If you’ve lost your job, state benefits and tax credits can provide vital financial support to see you through this tough time and help you avoid taking on too much debt while you look for more work. As far as your old employment is concerned, it’s important that you check your final wage slip to […]

Read more

How has the Mond ruling changed PPI claims after a Trust Deed?

26th February 2019

If you are a Scottish resident in financial difficulty, you may have entered into a Trust Deed in order to restructure debt repayments to creditors. A Trust Deed is a fixed voluntary agreement made between the debtor and creditor, with the help of a trustee. Debt is broken down into smaller, affordable instalments, typically lasting […]

Read more

Which debts can be included in a Debt Arrangement Scheme (DAS)?

21st February 2019

A Debt Arrangement Scheme (DAS) is a government backed scheme which allows you to repay debt through contractual, monthly instalments without the threat of legal action and incurring penalties or interest. The scheme was established in 2004 for Scottish residents in debt, providing an alternative solution to sequestration, the Scottish equivalent of bankruptcy. A Debt […]

Read more