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Employment at highest rate on record

 

Recent figures released by the Office for National Statistics (ONS) show that unemployment in the UK has fallen to 5.7% of the working population.

 

The figures show that 103,000 more people found work in the three months to December 2014. The employment rate now stands at 73.2%, marginally higher than the pre-crisis levels recorded in 2008.

 

Prime Minister David Cameron welcomed the information as proof that the Government’s economic plan is working. He said: ‘I’m not saying we have solved all our problems in the British economy in the last four and a half years, but we are on our way’.

 

Average earnings rose to 2.1%, the ONS said, although excluding bonuses that figure drops to 1.7%.

 

With the economy showing signs of steady improvement and more competition in the jobs market, Chief Economist at the Institute of Directors (IoD), James Sproule, said: ‘Two-thirds of IoD members are planning pay rises at least in line with inflation over the coming months’.