Unemployment falls again

There is good news in the latest Office for National Statistics Labour Market data, which shows that the between 3 months to January 2016 and the 3 months to January 2017 the employment rate has increased (to 74.6 %) while the unemployed rate hit its lowest level since 1975 (4.7%) Wages are also rising above the current rate of inflation.

While the unemployment rate for people aged 16 to 24 has been consistently higher than that for older people and remains so, between the 3 months to January 2016 and the 3 months to January 2017 the rates for this age group show a slight decline from 12.1% to 10.8%. The unemployed rate for 16-17 year olds has also fallen from 27.1% to 23.1%.

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