UK Unemployment Drops to Six Year Low

UK unemployment fell by 121,000 to 2.12 million in the three months to May, official figures show.

The figure is the lowest level in nearly six years, according to the Office for National Statistics (ONS).

The rate of unemployment also fell again, to 6.5% from 6.6% in the three months to April.

The number of people claiming jobseeker’s allowance last month fell by 36,300 to 1.04 million, the ONS added.

The latest figures also show that more than 78% of men and 68% of women are in work, giving an employment rate of 73.1%.

Prime Minister David Cameron said this was now equal to the record rate of employment set in 2005.

“Today’s figures show more people have the security of a job than ever before. Full employment is a key aim of our long-term economic plan,” he said.

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza