18/07/2001

UK UNEMPLOYMENT FALLS TO 25 YEAR LOW

THE rate of unemployment in the UK has fallen to its lowest level in 25 years.

The Office for National Statistics (ONS) has revealed a drop in jobless figures for the eight consecutive month, with unemployment now standing at just over 960,000, following a decline of 12,000.

However the news comes amidst warnings that the spate of high-profile job cuts is set to continue, in light of worsening economic pressures particularly in the ICT sector. Employment in the production sector has also been badly hit by the recent slump in manufacturing, giving rise to uncertainty in the City over how sustainable the reduction in unemployment will be in future.

The number of individuals claiming unemployment benefits has declined by more than 100,000 since June last year, while the overall number of Britons unemployed has fallen by 82,000 to 1.45 million, in comparison with a figure of 1.66 million for the same time last year. (CL)

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