- In the three months to January 2015 employment rose by 134,000, while unemployment fell by 102,000
- The unemployment rate was 5.7%, same as the previous three months, but down from 6% two quarters earlier
- The youth unemployment rate was 16.2%, down from 16.6% in the previous three months
- The annual growth in pay was 1.8%, including bonuses, and 1.6% excluding bonuses
Commenting on the latest labour market figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce said:
“The latest job figures continue to show that the UK labour market goes from strength to strength. They also support our forecast that the pace of economic growth will edge up slightly in the first quarter of 2015.
“After a setback last month, it is positive that youth unemployment has resumed its decline. We have made impressive progress in this area, but while the youth unemployment rate remains significantly higher than the adult unemployment rate, we must avoid any action that could hamper progress.
“It is also good news that the annual rise in earnings is considerably higher than that of prices, however the pace of earnings growth is not accelerating. The Bank of England must make clear that the current low level interest rates will be maintained until early 2016 to support business growth and investment.”