Commentary: UK unemployment falling at fastest pace in a decade

UK unemployment falling at fastest pace in a decade

• Unemployment rate down to 7.7%
• But number of people claiming jobless benefits rises
• Wage growth up just 1.8% in a year
• Public sector sheds 24k jobs, private sector gains 104k jobs

The UK’s unemployment rate has fallen at the fastest rate in 10 years.

The Independent:
“Government hopes that private firms will create jobs as posts are cut in the public sector were given a boost with news that employment in the private sector increased by 104,000 in the first three months of the year to 23 million.

At the same time, public sector employment fell by 24,000 to 6.1 million, and the decline would have been bigger but for the 15,000 temporary jobs created to deal with the Census.

The 88,000 fall in unemployment in the three months to April was the biggest quarterly cut since the summer of 2000.

The reduction was mainly among 16 to 24-year-olds, with unemployment in this age group being cut by 79,000 to 895,000, the lowest figure for two years. “

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