The future looks bright as UK unemployment falls to lowest level since the 2008 financial crisis

According to the latest figures released by the Office for National statistics, UK unemployment is at a seven year low with 1.83 million people out of work, down 35,000 from the previous quarter. At the same time, the total number of people in work rose to 31.1 million.

The unemployment rate of 5.5% in the January to March period, is the lowest rate since the middle of 2008. Compared to last year where the rate was 5.7% in the October to December quarter and 6.8% a year ago, these latest figures indicate a positive future for the country particularly when compared to other European countries such as France (10.6%), Spain (23.2%) and Greece (25.7%).

And that’s not the only good news for UK workers, the average pay for employees has risen 1.9% (2.2% excluding bonuses) in the quarter compared with 2014. These figures mean that regular pay is increasing at its fastest rate for nearly four years.

Source; www.ons.gov.uk         Published; 13.05.2015