Quarterly Jobs Growth Hits 43-Year High

Written By Unknown on Rabu, 14 Mei 2014 | 16.12

The unemployment rate has hit its lowest level since February 2009, helped by a record number of people finding work over the quarter.

The figures - released by the Office for National Statistics (ONS) - showed a record 283,000 secured a job in the three months to March, with self-employment driving the performance.

It meant, the ONS said, that more than 30.4 million people are now in work - the highest since records began in 1971.

It helped total unemployment fall by 133,000 to 2.21 million during the period, giving the UK an unemployment rate of 6.8%.

The total number of self-employed rose to a record 4.5 million. 

But there was disappointing news on pay in the figures.

Average earnings increased by 1.7% in the year to March, slightly ahead of the latest CPI inflation rate of 1.6% but below the expectations of economists.

The figure is closely-watched by the Bank of England for evidence people will be able to absorb rising mortgage costs when it begins to raise bank rate - currently expected in Spring 2015.

The ONS also confirmed the 18th consecutive monthly reduction in Jobseeker's Allowance claimants - by 25,100 in April to 1.12m. 

The performance was welcomed by the Government.

Minister for Employment Esther McVey said: "As the recovery takes hold, more people are able to get a job or set up their own business and become the employers of tomorrow.

"Each and every person who has made a new start or hired someone new is helping to make Britain a more prosperous and confident place to be.

"We will continue to support those in and out of work who want to get on and fulfil their ambitions for a more secure future."

Prime Minister David Cameron tweeted:  "There's more to do, but it's welcome unemployment is down again.

More jobs means more financial security for people."

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