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UK unemployment falls to five-year low as wages finally overtake inflation

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16/04/2014
Unemployment in the UK fell to 2.24 million in the three months to February, the lowest level since March 2009.

According to figures from the Office for National Statistics (ONS), overall unemployment was down 77,000 on the quarter and 320,000 on the year, leaving 6.9 per cent of the labour force aged 16 and over unable to find a job.

The ONS said 30.39 million people are currently in work, a rise of 239,000 on the quarter and 691,000 on the year.

Some 72.6 per cent of the UK population aged 16 to 64 is employed.

Weekly wages, including bonuses, increased by 1.7 per cent in the year to February – beating inflation for the first time in six years.

Inflation fell to 1.6 per cent in March, according to figures revealed earlier this week.

Regular pay, excluding bonuses, increased by 1.4 per cent.

 

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