20-03-2008
Statistics office notes UK unemployment fall
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Britain's Office for National Statistics (ONS) has released data showing a decline in the UK's unemployment levels.
Statistics show that over a three month period up to the end of January 2008, the UK's unemployment levels fell to 1.61 million, reports the BBC.
The ONS also reported a January earnings rise of 3.7 per cent in annualised terms.
"Broadly speaking the labour market situation is consistent with trends in previous months," said Philip Shaw, chief economist at Investec, a banking group operating internationally.
"In particularly average earnings growth remains very subdued despite high headline rates of inflation. The labour market is still not a threat."
The fall in unemployment represents a decline of 32,000.
It was also noted by the ONS that, in February, the total number of individuals in receipt of jobseeker's allowance also declined, by a total of 2,800.
Investec has a history going back to 1974, when it was established as a leasing company in South Africa.