12:39 17 October 2013
Following news that house prices across the UK has reached record high, the Office for National Statistics (ONS) have confirmed that unemployment rate fell by 18,000. Analysts could see this as another proof that UK economy is really on its way to recovery.
Based on official figures, the unemployment rate is down to 2.49 million; a 7.7per cent drop from the previous quarter.
The ONS added that the number of people claiming Job Seeker’s Allowance last month fell by 41,700 to 1.35 million. Meanwhile, the number of people holding jobs, both full time and part-time, reached a record high of 29.87 million in the quarter.
The Prime Minister, David Cameron, seems to be impressed with the figures released by ONS. He said: "These are welcome figures. Of course, we all want to see living standards improve, and last year disposable income increased. But the way to deliver on living standards is to grow the economy, keep producing the jobs and cut people's taxes."
Meanwhile, Labour Leader Ed Miliband said that there is “a cost-of-living crisis in the UK”. He said: "Today's economic figures show a welcome fall in unemployment. They also show that prices have risen faster than wages and that is 39 out of 40 months that living standards have fallen since he became prime minister."
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