UK / Jobless rate falls to three-year low

The number of unemployed people in the UK fell by 48,000 to 2.47 million between July and September, the Office for National Statistics has said.

The unemployment rate fell to 7.6%, the lowest rate in more than three years.

The Bank of England has said it will not consider raising interest rates from their record low of 0.5% until the unemployment rate falls to 7%.

Youth unemployment also showed signs of improvement, with the number of jobless 16-to-24 year-olds falling by 9,000 to 965,000.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via BBC News – UK jobless rate falls to three-year low as economy grows.

From Press Release by ONS

For July to September 2013, compared with April to June 2013, as shown in Chart 1:

• The number of people in employment increased by 177,000 to reach 29.95 million.
• The number of unemployed people fell by 48,000 to reach 2.47 million.
• The employment rate for those aged from 16 to 64 was 71.8%, up 0.3 percentage points from April to June 2013. 
• The unemployment rate was 7.6% of the economically active population, down 0.2 percentage points from April to June 2013.

Youth

Chosen excerpts by Job Market Monitor. Read the whole story at 

via Labour Market Statistics, November 2013 – ONS.