Unemployment hit its lowest rate in nearly 50 years

ONS Labour Market Stats

This week's Office for National Statistics (ONS) labour market figures showed an employment rate of 75.5% and an unemployment rate of 3.5%, the lowest it has been in nearly 50 years.

Welcoming the news, Richard Fuller MP said:

New data shows that unemployment fell to 3.5 per cent in August, the lowest since early 1974. The government will build on this by cutting taxes, creating 38 new Investment Zones, and delivering supply side reform to speed up infrastructure delivery.  This will help to drive long-term growth, higher wages and better living standards for everyone. 

The ONS data can be found here.

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