UK Unemployment Rate Remains at 4.7%

The Office for National Statistics (ONS) has confirmed that unemployment has fallen to 1.56 million, although remaining at 4.7%. The number of people who are employed has increased to 31.84 million, the highest on record. The figures released also show that the number of long-term unemployed has fallen to 389,000, the lowest figure since 2008.

Damian Green, the Secretary of State for Work and Pensions, said in a statement:

“This is yet another strong set of figures, with unemployment at a rate that hasn’t been beaten since the 1970s and more vacancies than ever before.

More people are finding full-time jobs and average wages have grown yet again, meaning more families have the security of a regular wage.

However, there is always more to do. That’s why we’re creating a welfare system that rewards work through Universal Credit, which helps claimants keep more of the money they earn”.