LondonNet News Headlines
|Unemployment Hits 20 year Low
- Fewer jobless in UK than USA for first time since 1980
THE LONGEST period of economic growth in the United Kingdom's history - heading for 30 consecutive quarters - has led to the lowest jobless figures in generation.
At 4 per cent or 1.164 million, the unemployment rate is at its lowest rate since 1980, before the first disastrous recession of Margaret Thatcher's premiership. This means that it is the first point in the last twenty years that the UK's figure has dropped below that of the USA's.
Even using Labour's preferred measurement, the Labour Force Survey, the rate at 5.9 per cent , is comfortably below our key European competitors such as France and Germany.
"There are more people in jobs than ever before. Employment level are continuing to set new records" said employment minister Tessa Jowell.