The number of people in work is at an all-time high in the UK!

The number of people in work is at an all-time high, according to the Office for National Statistics (ONS).

UK unemployment figures have fallen by 43,000 meaning that the percentage of people willing but unable to work is now just 5.5 %. The employment rate considers the percentage of the UK population aged between 16-64 currently in work. The study noted that the percentage has increased to a 73.4% as of  March 2015.

Speaking exclusively to HR Grapevine, Hannah Maundrell, Editor and Chief of money.co.uk, said the statistics were good news and were unlikely to go unmentioned in the Chancellor’s upcoming Budget speech on July 8.

“What’s really positive for consumers is that wages are actually rising too and low inflation is giving us a little more buying power. Let’s not forget that with turmoil in Europe there are clouds on the horizon, and while the figures look good now many households are struggling.”

The total figure of people presently employed is at 31.05 million, having risen 114,000 from the previous three month period. The report also found that wages have hit the highest rate in nearly four years, with the average pay in the UK now at £462 a week.

However, the unemployment rate for those aged 16-24 is still the highest at 16.1%. This report comes just weeks after a study found that half of University students believe it is impossible to find a job.

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