Key Statistics: 21 April 2015

Construction

• More construction companies opened than closed during 2013, for the first time since 2008, according to analysis by accounting specialist NoPalaver of Companies House registrations. 38,335 companies opened during the year, a net gain of 5,445 registered companies. 2012 had seen a net loss of 7,030 construction firms.

Economy

• Official UK Labour Market Statistics for the three months to February 2015 show:
• The UK 16-64 employment rate rose even further in the three months to February 2015 to 73.4%; the highest since comparable records began in 1971.
• The unemployment rate continued the downward trend established over the last two years; falling to 5.6% from 5.8% in the previous quarter and 6.9% a year ago.
• The 18-24 unemployment rate remains over twice this average at 14.3%, though it has fallen from 17.1% a year ago
• Average weekly earnings (excluding bonuses) rose by 1.8% on a year earlier during the three months to February, roughly on a par with growth seen over the last six months.