Office of National Statistics – The NEN

Wealth in Scotland: the great divide

New statistics show average wealth remained stable while wealth inequality remained high.

According to the latest data from just before the pandemic, a typical household in Scotland had £214,000 in total wealth, similar to previous years. A typical household in the wealthiest 10% of households had £1.6 million in total wealth, whereas a typical household in the least wealthy 10% of households had £7,500.

The least wealthy households rarely own property or have any private pension savings. Their wealth is mainly made up of the value of their possessions such as cars, furniture and clothing.

Wealth inequality was more severe than income inequality: the 2% of households with the highest incomes had 9% of all income, while the wealthiest 2% of households had 15% of all wealth.

Households that tend to be wealthier than others are higher income households, pensioner couples, and home owners. In contrast, households with below average wealth tend to be low income households, lone parent and single working-age adult households, and those in rented housing.

Three out of ten households had insufficient savings to keep them above the poverty line for a month should they lose their income. Four per cent of households were in unmanageable debt. A third of households did not own any property, and a third of adults had no private pension savings.

The released figures were produced in accordance with professional standards set out in the Code of Practice for Official Statistics

The full statistical publication: Wealth in Scotland 2006-2020

Latest stats reveal fewer homeless Scots

Homeless applications down by over a third in five years

Fewer people in Scotland are becoming homeless according to official statistics published today by Scotland’s Chief Statistician. Housing Minister Margaret Burgess has welcomed the latest figures.

Scottish councils received around 9,100 applications for homelessness assistance during July to September 2014, three per cent lower than in the same period in 2013.

At 30 September 2014, there were just over 10,300 households in temporary accommodation – this figure was almost unchanged compared to one year earlier.

In addition to the fall in applications, the number assessed as homeless, or likely to become homeless within two months, fell by three per cent to around 7,400.

Where contact was maintained, four out of five individuals assessed as unintentionally homeless went on to secure settled accommodation such as council housing, housing association or private let, as an outcome. This proportion has remained stable for the past seven years.

In recent years, the focus has been on the housing options approach to homelessness prevention by local authorities and their partners.

Councils consider the range of housing options available to ensure the best outcomes for those that approach them for assistance. The Scottish Government supports this process by funding five regional housing options hubs.

Financial support is also provided to third sector organisations working to prevent homelessness, such as the recent awards made under the Housing Voluntary Grant Scheme.

Since 2008/9, homeless applications have fallen by 36 per cent.

Housing Minister Margaret Burgess said: “These latest statistics, which illustrate the continued falls in homelessness across Scotland, are to be welcomed. It is also encouraging that since 2008/9, homeless applications have fallen by 36 per cent.

“We are working closely with local authorities and their partners to prevent homelessness, increase the number of affordable homes and address the issue of empty homes.

“Councils have been developing services in which staff assist households to consider their range of housing options to address their housing needs in order to help prevent homelessness before it occurs.

“The Scottish Government’s Housing Voluntary Grant Scheme has also allowed third sector organisations, such as Age Scotland, Scottish Women’s Aid and Shelter Scotland, to develop projects that prevent homelessness.

“We are also investing over £1.7 billion to deliver 30,000 affordable homes during the lifetime of this Parliament, working with local authorities to build record numbers of council houses and have abolished the Right to Buy to protect up to 15,500 social homes from sale over the next ten years.”

Encouraging signs as wages outstrip inflation

Brighter outlook for job seekers as unemployment falls again

There have been more indications that economic recovery is gathering pace with the publication of the latest figures by the Office of National Statistics yesterday.

Unemployment has dropped below 7% for the first time since the recession and employment has seen the biggest annual jump in a generation, the latest figures show.

Unemployment fell by 77,000 in the last 3 months, taking the unemployment rate to 6.9% for the first time since 2009.

In the largest annual rise in nearly 25 years, the number of people of people in a job rose by 691,000 – more than double the population of Newcastle – bringing the record number of people in work to 30.39 million.

Wages also rose on the year by 1.7%, against yesterday’s announcement that March’s inflation had dropped to 1.6%, and job vacancies rose again, up 108,000 over the past year bringing the number of vacancies in the UK economy to 611,000.

Minister for Employment Esther McVey said: “More young people are in work, more women are in work, wages are going up, and more and more businesses are hiring – and it’s a credit to them that Britain is working again.

“But there is still more to do – which is why I’d go even further and call on more employers to work with us to tap into the talent pool the UK offers.”

In Scotland, employment levels are at their highest since records began with 2,575,000 people over 16 now employed. The employment level is now 13,000 above its pre-recession peak of 2,562,000 in 2008.

National Statistics also published yesterday by the Scottish Government showed Gross Domestic Product (GDP) grew by 0.2 per cent over the fourth quarter of 2013 and increased by 1.6 per cent during 2013, the fastest annual growth since 2007.

The highest employment level record has been met by an increase in employment of 68,000 over the year, driven by an increase of 46,000 in the female employment level. The female rate of employment in Scotland is now 1.8 percentage points above the UK.

Scotland has again outperformed the UK across all headline labour market indicators, with a lower unemployment rate, higher employment rate and lower economic inactivity rate: details not missed by First Minister Alex Salmond.

Although the Scottish unemployment rate increased by 0.1 percentage points over the quarter, over the year it fell by 0.8 percentage points and now stands at 6.5 per cent compared to 6.9 per cent in the UK as a whole.

For the 17th consecutive month the claimant count decreased in Scotland with the number of people claiming Jobseekers Allowance falling by 2,400 over the month to March.

Welcoming the latest labour market figures, First Minister Alex Salmond said: “Today’s historic jobs figures show the Scottish Government’s policy of investing in infrastructure to boost the economy is making significant progress with employment levels at a record high. To put it in perspective, there are 285,000 more people in employment today than there were when the Scottish Parliament was established in 1999.

“Scotland is outperforming the UK across employment, unemployment and inactivity rates which goes to show even with the limited powers over the economy at our disposal we are improving our country’s economic health.

“Everyone aged between 16 and 19 is guaranteed an offer of a place in training or education through Opportunities for All and just this week we revealed we will create thousands of additional Modern Apprenticeship places, bringing our total target for MA’s to 30,000 every year by 2020 – double the level we inherited in 2007.

“This commitment to equipping our young people with the skills that they need will be further strengthened with the appointment of Angela Constance as Cabinet Secretary for Training, Youth and Female Employment.”

Carmichael welcomes latest employment figures

The latest employment figures show that Scotland is doing well as part of the UK, Scottish Secretary Alistair Carmichael said today.

Unemployment in Scotland fell by 7,000, to 196,000 in the period August to October 2013, according to Office for National Statistics (ONS) data released today.

The Scottish unemployment rate is 7.1 per cent, which is below the average of 7.4 per cent for the whole of the UK.

The labour market statistics also show employment in Scotland has increased by 11,000 over the three months August to October 2013. The number of those in employment in Scotland now stands at 2,546,000.

Scottish Secretary Alistair Carmichael said: “Every new job created in Scotland represents someone getting back into work and is to be welcomed. Today’s figures reinforce how well Scotland is doing as part of the UK and they are good news for people and families across the country. There are 83,000 more people in employment in Scotland than there were a year ago.

“Unemployment has fallen and employment increased over the three months to October. We have also seen a further significant fall of 2,900 in people claiming Jobseekers Allowance in November. As a result there are 23,300 fewer Scots claiming JSA compared to one year ago.

“This comes on the back of recent positive news and the continuing recovery of our economy. We will keep up all our efforts to create the right conditions for the private sector to create sustainable, long-term jobs.”