The unemployment rate dropped to 7.7% in the three months to November as the UK's jobs market continued to improve in contrast to most of its European neighbours.
The Office for National Statistics said there were 2.49 million people unemployed, down 37,000 on June to August 2012 and down 185,000 on a year earlier. It is the lowest since spring 2011.
A record number of people were also in work last year after a boost to full-time and part-time working. Almost 30 million adults were in a job in the quarter to last November, up by more than half a million on the previous year.
The figure, giving an employment rate of 71%, is the highest since records began in 1971.
Other figures revealed that the number of self-employed workers has increased by 7,000 to 4.2million.
In another encouraging sign of life for the economy, long-term unemployment has fallen - down by 10,000 for those out of work for more than two years, to 434,000, and by 5,000 for people unemployed for at least a year, to 892,000
The economy is springing back to life and there are ‘good reasons to suppose a gentle recovery is under way’, the governor of the Bank of England said last night.
Sir Mervyn King also said there was ‘no reason’ why State-backed Royal Bank of Scotland and Lloyds could not be largely sold back to the private sector ‘within a relatively short period’.
Delivering his most upbeat speech since the financial crisis, Sir Mervyn outlined a set of policies which he said could ‘roll back the dark cloud of uncertainty’ hanging over the economy.
Opinion is hardening at the Bank of England against stimulating the economy with any extra cash.
Its powerful cohort of rate-setters remained entrenched in their positions at their early January meeting - they again voted 8-1 against more money printing and 9-0 against a change in the rock-bottom 0.5 per cent interest rate.
But while monetary policy committee member David Miles maintained his vote for a modest increase in the £375billion of bond purchases made to date to £400billion, others said they had become more certain that this was not necessary.
Originally posted by MarioOnTheFly
reply to post by michael1983l
I really doubt that's the truth.
There can be no recovery since the system is crooked, broken...it can not recover. It is slowly reaching the event horizon...
I'm not being pessimistic. Just realistic.
But hey...weekend will be here soon, so everything will be all right.
Originally posted by jrmcleod
Laugh out loud....
Have you all not clicked by now that the system cannot be fixed.
Why in the past 3 years have people not clicked that this financial crisis has always been impending...some may say orchestrated but lets be sure of one thing...those that created this system must have had the fore-sight to see that it would fail.
The UK is on the right road until next quarter when yet again we hear sales dropped and blah blah blah...it's all the same!
edit on 23/1/13 by jrmcleod because: (no reason given)
Originally posted by Tindalos2013
It's all rolled out to the people to shut up complaints however it is just more spin and tricks. Most of them will just accept it at face value and carry on as normal, feeling good about themselves. Remember the Government is not your friend nor are stats or polls. Not any of them reflect a realistic truth to the state of life.