Unemployment falls AGAIN and weekly earnings up despite Brexit, new figures show
The number of people out of work fell by 16,000 in the last three months, almost beating all-time records
UNEMPLOYMENT has dropped again as Britain continues to shrug off uncertainty from the referendum result and the economy powers through.
And average weekly earnings are up 2.6%, according to new stats from the Office for National Statistics.
Despite the doom and gloom predictions for the UK economy after the referendum result, the number of women in work reached a record high of 15 million this quarter - the best result since records began in the 1970s.
The number of people out of work fell by 16,000 in the last three months, and the UK now has one of the lowest employment rates in the EU.
In total there were 31.7 million people in work - 74.4% - almost beating all-time records.
Typical weekly pay was up to £475 per week, from £463 the year before.
Average incomes were up 2.6% on last year too - far above inflation.
"Today's data provides the clearest evidence yet that the jobs market has started to cool off since the Brexit vote," said John Hawksworth, chief economist at PwC.
So far the negative predictions from the Bank of England and other economists have failed to materialise.
RELATED STORIES
Work and Pensions Secretary Damian Green said the good news was seen right across the UK.
"This year will be remembered as one when so many records were made - employment has consistently been running at an all-time high with more women, older workers and ethnic minority groups in work than ever before, he said.
"But there is more to do to help people of all backgrounds and abilities into work, which will remain a priority as we press ahead with our welfare reforms that are ensuring it always pays to be in work,” he added.
“We welcome today’s unemployment rate, but it is clear the Tories have presided over a broken labour market with insecure work and in-work poverty rising.
“This government has asked the most vulnerable members of our society to pay for six wasted years of austerity. The results of their economic mismanagement have been increased borrowing, growth revised downwards and pay flat-lining."
