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Unemployment at a 42 year low

UK unemployment has dropped to 1.49 million and is the lowest since 1975 – the year of the referendum to remain in the European Economic Community – according to the ONS.

Unemployment fell by 64,000 in the three months to May, the figures show, suggesting that apart from in August last year unemployment has fallen in every other month since the vote to leave the EU in June 2016.

In percentage terms, this means that the UK unemployment rate is 4.5%.

Commenting on this news, Director of the Better Off Out campaign, Rory Broomfield, said:

“This is just another indication that the predictions of George Osborne and others involved in Project Fear were mistaken. The doom-mongers have been proved wrong.

The correction in Pound Sterling has made the UK’s economy more competitive and, unlike the predictions of Osborne and co, has led to continued foreign direct investment and the development of economic opportunities for people across the UK.

This is good news. I hope it will be covered with a positive tone across news outlets, including the BBC, Bloomberg, the Economist, the FT and the Evening Standard.”

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