UK Unemployment Falls

UK Unemployment Falls.

Unemployment has fallen in the UK, but only just, by 4,000 in the second quarter April, May, June.

Figures released by the Office for National Statistics (ONS) confirm that unemployment still sits at 7.8%.  The number of workers increased by 69,000 and means that over 300,000 more people are in work that in the summer 2013.

Of course, we now have a raft of school leavers to add these figures through the summer months, so watch this space.

Comment
The news is good, real terms unemployment is falling and this is good for the economy, more people working, more people spending money and more tax being paid for much needed revenue by government.

The figures are also key in that the Bank of England has now set a forward guidance policy for interest rates in that is plans not to cut interest rates until unemployment falls below 7%.