Unemployment falls to lowest rate in more than ten years

Job Centres were the quietest they have been for a while in the three months to May
Job Centres were the quietest they have been for a while in the three months to May
Author

16 June, 2016

But the number of women out of work was 12,000 higher at 779,000, the Office for National Statistics reported.

The number of people claiming unemployment benefits decreased slightly by 400 from April.

British unemployment just fell once again, dropping to a low not seen in more than ten years. The unemployment figure exceeded expectations of 5.1%, the prior five releases were reported at 5.1%.

Wage growth picked up, accelerating in the three months to April to 2.3%, excluding bonuses, although the rate of growth was weaker than it was a year earlier, at 2.6%.

Separate figures showed employment in central and local government rose 1,000 in the first quarter to 5.17 million, reflecting increased payrolls in the National Health Service.

Unemployment fell by 20,000 to 1.67 million in the latest three months.

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In April alone, regular pay growth jumped to 2.5 per cent from 1.9 per cent in March, the biggest rise since August previous year.

Pro-EU Work and Pensions Secretary Stephen Crabb said the figures proved life in the EU offered the "best of both worlds".

A record 31.6m people were in work for the three-month period, thanks to an increase of 55,000 from the preceding three months, with 23.1m of them working full-time.

"Our economic plan is delivering jobs and security right across the United Kingdom".

"Nevertheless, job creation has slowed compared to the start of the year and much of 2015", he noted, though the acceleration in earnings growth was welcome news for consumers and the Bank of England. "But I am confident Wales will continue to pull ahead and continue to create highly skilled jobs with wages to match".

The Treasury has previously warned that a vote for the UK to leave the European Union would lead to two quarters of negative growth - would last for a year and leave the level of UK GDP 3.6 per cent lower in two years' time.


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