By Marcus Leach
Official figures show that the number of unemployed people in the UK fell by 48,000 to 2.47 million between July and September.
According to the Office for National Statistics (ONS) the unemployment rate fell to 7.6%, its lowest level in more than three years.
The Bank of England has said it will not consider raising interest rates from their record low of 0.5% until the unemployment rate falls below 7%.
“There’s no question that the situation for jobseekers has improved dramatically over the past year. The number of advertised jobs hit a two-year high in September, and there has also been a significant drop in competition for jobs, with just 1.9 jobseekers per vacancy around the UK compared to 2.3 in 2011," Andrew Hunter, co-founder of Adzuna, commented.
“But while the autumn months performed strongly, the outlook for Christmas is beginning to darken. We’re already seeing the volume of job vacancies easing off in November, ahead of what is typically a slower time on the jobs market.
“In addition, a strong North-South divide remains. Our last jobs report found that nine of the top ten cities to find a job were in the South of England, where there are fewer than two jobseekers per vacancy.
"In terms of salaries, there are promising signs for London, the South East and Scotland, as advertised wages are up year-on-year. Growth remains uneven across the country, and some pockets of the UK have experienced a fall in wages. Average advertised salaries vary from £40,062 in London to just £26,202 in Wales.”
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