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22/10/2012

Is Britain's economy starting to recover from the recession?

October’s unemployment figures released show that unemployment is on a 15 month low with unemployment figures being the lowest since June 2011. Unemployment fell by 50,000 to 2.5 million pushing the jobless rate to 7.9%.

The number of people employed in Britain now stands at 29.6 million with a huge proportion of these people working part time or have temporary jobs. The number of people claiming job seekers allowance has fallen by 4,000 to 1.56 million. It was also welcoming to hear youth unemployment has fallen by 62,000 to 957,000, the lowest figure for over a year.

Even though the current employment figures released are welcoming and are the best figures for some time we still have a long way to go, youth unemployment is still a large issue in the UK there are still hundreds of thousands of people out of work.

Office for National Statistics