UK Unemployment Falls to 11-Year Low

The Office for National Statistics has confirmed that UK unemployment fell to 4.9% in the quarter ending May 2015. This is a reduction of 54,000 people from the previous quarter. The percentage of those in unemployment is also at a record high of 74.4%.

Philip Hammond, the Chancellor of the Exchequer, said about the news:

“Today’s employment and wage figures are proof that the fundamentals of the British economy are strong. In the months before the referendum, employment in the UK reached a new record high, unemployment fell to its lowest in a decade and wages continued to rise”.