Unemployment in UK falls down to 2.47 million

According to the official figures, the number of unemployed people has fallen down by 34,000 and reached to 2.47 million in the time period of three months till May.

According to Office for National Statistics (ONS), this fall has taken the unemployment rate to 7.8%, which is the lowest for a year. The number of working people have rose by 160,000 during the last three months, which has been the largest rise since the month of August in 2006.

This rise includes the record rise in part time workers of 148,000 and a rise of 12,000 in the full time workers. According to ONS, there are 27% of total workers in the part time jobs now which is the highest since the beginning of the records in 1992.

These figures show that people are coming back to the job market as workers or job hunters, which is very nice for the economy of the country.

Overall UK has seen a 0.1% fall in the unemployment figure. However, some of the market experts said that the unemployment rate could rise at the end of this year.