Unemployment Continues to Fall

Unemployment Continues to Fall.

New data from the Office for National Statistics (ONS) shows that unemployment has fallen to a 5 year low of 2.24m in February. The fall of 77,000 has come as reports show that average earnings rose in the 3 months to February to 1.7%.

Recent figures have also shown that inflation fell to 1.6% in March. This was the first time since 2010 that inflation was lower than wages.

Unemployment has not been under 7% since the recession.

1.42 million people were found to be in part time work due to being unable to find a full time position. This was 10,000 higher than the same point last year. The figures show that 16-24 year olds who were out of work fell by 38,000.

A new high was seen in the amount of people registered as self-employed. 4.5 million people were working for themselves, this was the highest figure since records began.