Unemployment falls to 2.46m
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The number of unemployed in the UK fell by 7,000 in the three months to November to 2.46m.
Figures from the Office for National Statistics says the UK unemployment rate now stands at 7.8%, the same as the previous three months, though represents an increase of 1.6% on the same period last year.
The number of people claiming Jobseeker’s Allowance in December also recorded a dramatic fall, dropping 15,200 to 1.6m.
The number of 16 to 24 year olds who were not working between September and November also went down by 16,000 to 927,000.
Benjamin Williamson, economist at the Centre for Economics and Business Research, says the data points to strong growth, which is surprising given that some firms are reducing are working hours and freezing pay.
But he says: “It is not time to start popping the champagne just yet.
“The low rate of new job creation is likely to keep the labour market subdued for a long time.
“Public sector cuts following the general election could also extend falls in employment into 2010 and 2011, weakening an already fragile recovery.”
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