The number of unemployed people in the UK fell by 58,000 to 1.91 million in the three months to November 2014, marking its lowest level for over six years, according to the most recent Office for National Statistics Labour Market Report.
In total there are now 30.8 million people in work, pushing the unemployment rate down to 5.8% of the adult working population. The number of people claiming job seeker’s allowance also fell by 29,700 to 867,000, the 26th consecutive monthly reduction.
Average earning increased in the September to November period.
Wages were up 1.8% from a year, excluding bonuses. Earning including including bonuses rose 1.7%. This is the second consecutive period that both measures of earning have been above the level of inflation, which stood at 1% in November and fell to 0.5% in December.
However, the number of 16 to 24-year-olds out of work increased by 30,000 – the first quarterly rise since June to August 2013. There are also signs that employment growth is slowing, as the fall in unemployment was the smallest it’s been since the second quarter of 2013.