UK Unemployment Falls by 63,000

The number of people out of work in the UK fell by 63,000 to 2.33 million in the three months to January 2014, according to official figures.

The unemployment rate now stands at 7.2% of the population, the Office for National Statistics (ONS) said.  The number of people in employment rose to a record 30.19 million, helped by a rise in the number of self-employed.

Average earnings also increased, with pay in the three months to January up 1.4% from a year earlier.  The number of employees in work fell by 60,000, but 211,000 more people were recorded as self-employed.

There was better news for young people, as the number of unemployed 16 to 24-year-olds stood at 912,000 in the three months to January, a drop of 29,000 and the lowest level since 2011.

In February, the number of people claiming Jobseeker’s Allowance fell by 34,600 to 1.175 million.  Over the course of a year, the number has dropped by 363,200.

Employment Minister Esther McVey said the overall fall in unemployment showed that “the growing economy is helping record numbers of people to find a job.”

She said, “The rise in employment is being fuelled by businesses and entrepreneurs across the country who are feeling increasingly confident with the improving economy,”

Prime Minister David Cameron tweeted, “Another significant fall in unemployment is a sign our long-term economic plan is working, providing security and chances for hard-working people.”