UK unemployment rate falls to lowest since 2006

A new report says the unemployment rate of the UK has fallen to the lowest over the past 10 years.

According to the report released by the Office for National Statistics (ONS) the rate stood at 5.2 percent in the third quarter. This is the lowest rate since 2006.

ONS reported that the number of people out of work fell by 110,000 to 1.71 million between August and October. There were 31.3 million people in work, 505,000 more than for a year earlier.

The report comes as it was expected that the jobless rate would remain at 5.3 percent.

David Freeman from ONS said:”Earnings continue to grow in real terms, although at a slower rate than we have seen in recent months.”

According to ONS, vacancies of 747,000 in the UK jobs market have not been higher since data began in 2001.

“There are unreliable job contracts in the UK which make working very hard for most of the  Britons as they don’t know for how long they would have a job,” a London-based economic expert, Ivor Kellock told Press TV’s UK Desk.

He went on saying that the current government has been trying to change the methods of helping the jobless population over the past few years but the new methods are not paying off and the jobless people are suffering more.

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