Britain's unemployment rate has plunged to 4% - a level not seen in more than 40 years


City of London

REUTERS/Eddie Keogh

The rate of unemployment in the UK fell to just 4% between April and June this year, the lowest level since comparable records began in the early 1970s, according to the latest data from the Office for National Statistics, published on Tuesday morning.

The ONS said that the UK's unemployment rate, those not in work but who want a job, dropped from 4.2% over the previous period.

There were 1.36 million unemployed people in the UK over the three months, the ONS said, down 65,000 from the previous data period.
More people were in work over the period, the ONS added, saying that there were 32.39 million people in the UK with jobs, an increase of 42,000.

"The number of people in work has continued to edge ahead, though the employment rate was unchanged on the quarter," senior ONS statistician Matt Hughes said in a statement.

"However, the number of vacancies is a new record high, while the unemployment rate is now at its lowest since the winter of 1974-75."

The high number of vacancies suggests that the number of Brits in employment could rise significantly in the near future.

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