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UK Unemployment Drops Down 2.51 Million: ONS

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Unemployment in UK took jobless rate to down to 7.8% from 7.9%. and came down by 49,000 to 2.51 million in the three months to September.The Office for National Statistics told that more or less all the 49,000 fall was because of a decline in youth unemployment but the claimant count rose highest since July by 10,100 last month to 1.58 million.The total unemployment now is 110,000 lower than that of July-September quarter last year. The number of people in work increased by 100,000 in the latest quarter said ONS. "The data add to recent signs from business surveys that growing uncertainty about the economic outlook is causing increasing numbers of firms to retrench and focus on cost cutting," said Chris Williamson, economist at economic research firm Market. Get loans in a simple way, apply for pounds to pocket In an interaction with media to present the Bank of England's latest economic outlook Governor Sir Mervin King said the figures shows that the labor market is quite strong and it is hard to settle this with the slow growth in the economy.He also said that the economy had hardly grown over the past two years and predicted that the recovery would be passive.ONS in its other figures shows that long-term unemployment increased by 12,000 in the quarter to September to 894,000, while for more than two years 443,000 people have been jobless. Part-time employment increased by 49,000 to 8.1 million which is close to a record high, while there were 51,000 more people in full-time jobsThe latest fall in unemployment was because of a reduction in youth unemployment, the ONS believed that the jobless rate among 16 to 24-year-olds was still 963,000.

Mark Hoban, the Employment Minister, told the BBC that the number of people in work has been increased by 100,000 and youth unemployment is below a million again.Latest figures show sharp increase in long-term unemployment, coursing towards the million marks. According to Shadow work and pensions secretary Liam Byrne this is a particularly worrying area.According to Anna Marie Detert, a director at KPMG Management Consulting, the development was being motivated by the private sector, in manufacturing and services, but it is too early to tell whether it is the first sign of real sustainable growth in the jobs market.She also said that greater numbers securing permanent jobs can be seen across a variety of sectors.
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