New figures show unemployment down and wages up
Unemployment has dropped to 6.9% – its lowest level for five years.
New Office for National Statistics (ONS) figures out today showed the number of people out of work across the UK fell by 77,000 to 2.24m in the three months to February.
The unemployment rate of 6.9% of the adult working population is the lowest since the start of the recession.
The ONS also revealed that average earnings in the three months to February grew 1.7% compared with a year earlier.
The rise comes as inflation on the Consumer Price Index (CPI) fell to 1.6% in March. In February it was 1.7 %.
It is the first time that earnings have matched inflation for six years, apart from two months in 2010.
Some commentators say it shows the squeeze on workers’ living standards is beginning to ease while others say there is still work to be done to make gains on the past five years.
Unemployment has dropped to 6.9% – its lowest level for five years. New Office for National Statistics (ONS) figures out…