UK Jobless Rate Falls To 5.6% As Pay Rises

The UK's jobless rate has fallen to 5.6%, according to the last set of official figures before next month's General Election.

The Office for National Statistics (ONS) said employment continued to rise, hitting a new record high last month and unemployment continued to fall.

Unemployment fell by 76,000 between December and February to 1.84 million, the ONS said.

There were 31.05 million people in work, 248,000 more than for September to November 2014 and 557,000 more than for a year earlier.

The proportion of people aged from 16 to 64 in work (the employment rate) was 73.4%, the highest since comparable records began in 1971.

It meant the unemployment rate fell 0.1% on the previous month to its best level in almost seven years at 5.6%.

Average earnings growth, excluding bonuses, picked up speed to an annual rate of 1.8% in February but slowed to 1.7% when the effects of bonus payments were included.

The number of people claiming jobseeker's allowance fell by 20,700 in March to 772,400, the 29th consecutive monthly fall.

The ONS said there were 743,000 job vacancies across the country in January to March, 124,000 more than a year ago and the highest since records began in 2001.

It also reported that around 1.3 million people were in part-time jobs when they wanted full-time work, up by 29,000 in the latest quarter.

The wider figures were seized upon by the Prime Minister David Cameron as the countdown to polling day continued.

He said: "There are now two million more people in work than in 2010 - that's more families with the stability and security of a regular pay packet.

"This is thanks to the hard work and the determination of the British people, and the Conservatives' strong leadership and clear economic plan.

"It would all be put at risk with the chaos of a Miliband-SNP stitch-up, hiking borrowing, hurting the economy, and costing jobs - and it'll be hardworking taxpayers who'll pay."

Rachel Reeves, shadow secretary of state for work and pensions, said: "Today’s fall in overall unemployment is welcome, but with working people earning on average £1,600 less a year since 2010 and the biggest fall in wages over a parliament since 1874, it’s clear the Tory plan is failing.

"Labour has a better plan to reward hard work, share prosperity and build a better Britain.

"A Labour government will raise the minimum wage to more than £8 an hour by October 2019 and give tax rebates to firms who pay a Living Wage.

"We will protect the tax credits that millions of families rely on, get at least 200,000 homes a year built by 2020, extend free childcare from 15 to 25 hours for working parents of three and four-year-olds and guarantee apprenticeships for everyone who gets the grades."

Liberal Democrat chief secretary to the Treasury, Danny Alexander, said: "Britain is the job creation powerhouse of the western economies.

"With record numbers of people in work and the highest employment rate ever, people can see the difference Lib Dems have made in government."