The Office for National Statistics (ONS) has confirmed that UK unemployment reached its lowest level for seven years in the three months to August 2015. Unemployment is now at 5.4% representing a fall of 79,000 people from the previous quarter. The number of people in work has also increased by 140,000 which means the employment rate is 73.6%, the highest since records began.
In a statement George Osborne, the Chancellor of the Exchequer, said:
“It is great news that Britain’s economic plan continues to create jobs and increase pay. We’ve got the highest rate of employment in our history, and real terms pay rising strongly”.
David Cameron, the Prime Minister, added:
“Today’s employment rate is the highest since records began. Our long term plan is delivering security and opportunity for working people”.