UK unemployment maintains 10-year low as George Osborne praises Northern Powerhouse growth

The unemployment rate held at a ten-year low of 5.1% in the fourth quarter of 2015, the Office for National Statistics has reported.

A total of 60,000 fewer people were employed between October and December 2015 than in the same quarter in 2014, labour figures showed. From the previous quarter, unemployment saw a decline of 60,000.

The labour figures bring good news for chancellor George Osborne, especially as the employment rates in North England increased. The government promised that the economy in the north would be boosted by the Northern Powerhouse plans.

"In face of significant global turbulence, new stats show highest employment rate ever and new records across whole Northern Powerhouse," Osborne said on Twitter. But we can't be complacent. With cocktail of risks in world economy we must stick to plan to deliver economic security and build resilience."

The employment rate in North East England increased by 2.1%, while North West England saw a 1% increase in the employment.

Despite the low unemployment numbers, average pay growth slowed to 1.9% including bonuses, down from 3.0% in the months July to September 2015.

"While the employment rate continues to hit new highs and there are more job vacancies than ever previously recorded, earnings growth remains subdued and markedly below the recent peak of mid-2015," ONS statistician Nick Palmer said.

The youth unemployment dropped to 13.6% in the quarter, a minor decline from the quarter between September and November. The proportion of unemployed young people is at its lowest since 2005.

Today's statistics show we're moving towards our goal of full employment, but with risks out there much more work to do