The UK’s unemployment fell by 65,000 in June to its lowest figure since 1978 with 1.36m out of work.

Youth unemployment is also at its lowest level since records began in 1992 says the Office of National Statistics with 492,000 unemployed people between the ages of 16-24.

In total 75.6 per cent of people were in work during the three month period, up from 75.1 per cent a year earlier which is close to a record high.

However although figures show a rise in productivity, there has been another slowdown in wage growth.Wages, excluding bonuses, grew by 2.7% in the three months to June, compared with a year ago.


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