UK unemployment has fallen to it’s lowest since 1975

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Official figures show that UK unemployment has fallen by 57,000 since June, it’s lowest in 42 years.

According to the Office of National Statistics, employment is up by 125,000, totally 32.1 million, the highest since modern records began in 1971.

The unemployment has also fallen to a 42-year low of 4.4 per cent, the lowest since the mid-70’s.

BBC’s report shows that jobs have been created in the construction, accommodation and food services sectors and transport and storage industries.

Damian Hinds, the employment minister, said the increase in employment over the year to June was due to more permanent, full time roles being made available.

“Over three million more people are in work now than in 2010, with seven in 10 of these roles being in higher-skilled work,”, he added.

75.1 per cent of people are now in work, which the ONS contributes partially to the introduction of a later state pension for women.

ONS also reported that the availability of work in the UK continues bring workers from overseas, but this rate has slowed down in the past year.

Average weekly earnings have also seen an increase in the last year, higher than July’s 2 per cent increase.

However, due to inflation running at 2.6 per cent, real earnings still fell by 0.5 per cent, according to the ONS’ figures.

Matt Hughes, Office for National Statistics senior labour market statistician said:

“The employment picture remains strong, with a new record high employment rate and another fall in the unemployment rate.”

Despite the strong jobs picture, however, real earnings continue to decline,”

“The number of workers born elsewhere in the EU continues to increase, but the annual rate of change has slowed markedly,” he added.

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