UK Unemployment Falls to 7.6% as Wages Rise

UK unemployment has fallen to 7.6% in the three months to September, according to official figures.

The Office for National Statistics revealed the country's jobless rate fell by 0.2% from April to June 2013.

The data means there were 2.47 million unemployed people aged 16 and over in the period, down 48,000 from April to June 2013 and from a year earlier.

"This news will encourage jobseekers that the market is ripe for employment and send a message to risk-averse employers to step up recruitment," said John Salt, website director at Totaljobs.com.

"Christmas will provide a further boost to part time job opportunities as the retail and hospitality industries gear up for the busy festive trading period."

In addition, the employment rate for those aged from 16 to 64 was 71.8%, up 0.3% from April to June 2013 and up 0.6% from a year earlier.

The data found there were 29.95 million people in employment aged 16 and over, up 177,000 from April to June 2013 and up 378,000 from a year earlier.

The inactivity rate for those aged from 16 to 64 was 22.2%, down 0.2% from April to June 2013 and down 0.4% from a year earlier.

ONS listed 8.92 million economically inactive people aged from 16 to 64, down 69,000 from April to June 2013 and down 149,000 from a year earlier.

The research also revealed that total pay rose by 0.7% compared with July to September 2012, but regular pay saw stronger growth rising by 0.8% over the same period.

Bernard Brown, partner and head of business services at KPMG Management Consulting, added: "No doubt the figures will be welcomed by those people setting UK government policy, but before complacency sets in a closer examination of earning power should be undertaken as the question that must be asked is whether wages are providing a sustainable standard of living."

Bank of England governor Mark Carney said he will not increase interest rates until the UK's unemployment rate hits 7%.