UK Unemployment Falls by 125,000

UK Unemployment Falls by 125,000

UK unemployment fell by 125,000 in the three months to December, putting the overall total at 2.35 million. The figures released today by the Office for National Statistics show unemployment is now 7.2 percent.

Also the level of employment grew by 193,000, and 14 million women are now in work, which is a record. Overall employment stands at more than 30 million, or just over 72 percent, which represents a small increase from last year.

The news has been seized on by the government to prove that its plan to rebuild the economy is working.

Employment Minister Esther McVey said: “Record numbers of women are in work and youth unemployment continues to fall, which means more people have the security of a regular wage and can plan for their future,”.

These figures come a day after The British Chambers of Commerce (BCC) predicted that UK GDP would soon exceed the level seen at the start of 2008. In upgraded the forecast, it estimates economic growth will be 2.8 percent this year – up from its earlier estimate of 2.7 percent.