(MENAFN) Data released by the Office for National Statistics (ONS) showed a decrease in the British unemployment rate to 6.9 percent in the December-February period, dropping from 7.1 percent recorded in the previous three months, Xinhua reported.
Figures show that the unemployment rate in British records is the lowest in the past five years, down by 77,000 from the previous quarter which registered 2.24 million unemployed people.
"Today's figures suggest that the labor market is in good shape. The economy is creating jobs and we continue to make progress towards the Chancellor of the Exchequer's aim of achieving the highest employment rate in the G7. In the past year alone, the employment rate has risen by 1.2 percentage points," a senior economic advisor to the EY ITEM Club commented.
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