Unemployment rate falls its lowest levels in TEN years despite fears of economic slowdown
Record breaking statistics sees 31.6million Brits in work with only 5 per cent of people are on the dole
UNEMPLOYMENT has fallen to its lowest level in ten years despite fears of an economic slowdown.
The jobless rate in the three months to April dropped 20,000 to 1.67million, just five per cent of the working-age population.
Employment rose 55,000 to 31.6million and wages were up 2.3 per cent after the introduction of the
National Living Wage. Experts said yesterday’s figures suggested firms nervous about the EU vote were not sacking staff but keeping them and cutting hours.
But they warned most of the increase was due to self-employment, and evidence was growing of a worsening in the jobs market in recent weeks.
Brexiteers said the official statistics proved business investment and jobs were holding firm.
Jobs Minister Priti Patel said: “It confounds the doom-laden statements from the In campaign.”
Pro-EU Work and Pensions Secretary Stephen Crabb said the figures proved life in the EU offered the “best of both worlds”.
Economist Ruth Miller said the figures should allay fears that uncertainty about the vote had “significantly weighed on the economy”.
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