Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 17 April 2015

UK unemployment tumbles to 5.6 per cent

Record high employment in Britain

Total employment jumped by 248,000 on the quarter according to the latest ONS data, the best 3 month period since April 2014.

Total employment is now at a record high of 31.05 million, having increased by an impressive 557,000 over the past year.

The total number of employed persons has now increased by 2 million since 2010.

Wages growth has remained moderate with total average weekly earnings rising 1.7 per cent, but promisingly job vacancies have increased by 124,000 year-on-year to 724,000.

Lowest unemployment rate in 7 years

Meanwhile, unemployment fell by another 76,000 to 1.84 million.

The unemployment rate has now declined all the way to 5.6 per cent, the lowest level since July 2008.

Great numbers, despite dismal wages growth.

Could be enough to swing the UK election result back in favour of the incumbents...