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Jobless total lowest since 2008
The number of jobless people has dropped by 76,000 to 1.84 million in the three months to February, leaving the unemployment rate 1.3 percentage points lower than the same time in 2014, and 7.9 percentage points from the 2010 general election. The ONS has also revealed how the number of people claiming Jobseeker’s Allowance fell by 20,700 to 772,400 in March.
The figures also revealed how employment rose 248,000 to 31.05 million and the number of young people, aged 16 - 24, out of work fell by 22,000 to 742,000 in the three months to February.
Additionally, the ONS has released data showing that in the same time period, long term unemployment has fallen by 188,000, although 107,000 people were made redundant. The average weekly earnings rose by 1.8 per cent excluding bonuses, and 1.7 per cent when bonuses are included.
Chris Williamson, chief economist at Markit, said: "The boost to spending power from the rise in real pay appears to be a big factor behind the country's ongoing economic upturn in recent months, as households take advantage of lower prices. However, there are question marks over how long this boost to consumer spending power will last."
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