Unemployment rate falls to 20-year low

Employment in the UK has risen by over 183,000 and the jobless total has dropped to a 20-year low in the past three months, according statistics released today by the Office of National Statistics (ONS).

Labour market statistics this month show a higher employment rate, a continuing rise in the number of people in employment and more job vacancies than a year ago. The unemployment rate continues to decline and there is another fall in the claimant count. Growth in average earnings, both including and excluding bonuses, is higher, according to the figures.

Secretary of State for Work and Pensions, Andrew Smith, said: "The UK has weathered the recent global economic slowdown without a rise in unemployment. Our success in keeping unemployment low means the employment demands of a growing economy will increasingly be met from other sources, such as the economically inactive.

"The level of inactivity is falling, but there is more to do. The development of Jobcentre Plus represents the first concerted effort by any government to provide active support to all benefit claimants of working age to help them return to work."

In the quarter ending in February, the working age employment rate was up 0.4 percentage points to 74.9% - a rise of 183,000 over the quarter. The employment level was 28.33 million in the three months to February 2004 – up 318,000 on a year earlier.

Workforce jobs were up 114,000 over the quarter to 30.31 million in December 2003 and up 367,000 on a year earlier. Over the year to December, service sector jobs were up 319,000 and other industries up 144,000. However, production industries workforce jobs were down 95,000.

The number of men in full-time employment was 13.71 million in the three months to February 2004, up 68,000 from the three months to November 2003. The number of women in full-time employment was 7.23 million in the three months to February 2004, up 13,000 from the three months to November 2003.

The unemployment rate now stands at 4.8%, down 0.1 percentage point on the previous quarter. The number of unemployed people fell by 33,000 over the quarter.

The unemployment level was 1.43 million in the three months to February 2004, down 76,000 on a year earlier.

The number of unemployed men was 844,000 in the three months to February 2004, down 35,000 from the three months to November 2003. The number of unemployed women was 582,000 in the three months to February 2004, up 2,000 from the three months to November 2003. The claimant count was 882,200, a fall of 4,200 over the previous month.

(gmcg)