The number of people in work reach a record high

Sorry, no compatible source and playback technology were found for this video. Try using another browser like Chrome or download the latest Adobe Flash Player.

Sorry, video is not available for your device…

The number of people in work reach a record high

The number of people out of work in the UK has fallen.

According to figures from the Office for National Statistics, unemployment in London fell by 4,000 in the three months to November.

The Office for National Statistics showed that a total of 298,000 people were unemployed in the capital between September and November.

London's unemployment rate was 6.5%. The worst area in the UK was Wales where the number of people without a job increased by 9,000.

It is reported to be the lowest level in 6 years, despite the drop in figures being less than in 2003.

The overall picture looks good, however it is a different story for young people aged 16 to 24-years-old.

The worst area in the UK was Wales where the number of people without a job increased by 9,000.

Matthew Whittaker, chief economist at the Resolution Foundation think tank, said: 

"Pay has been picking up, but it remains a long way short of the level we'd expect to see during normal economic times. Without this rebound we are unlikely to make up the lost ground on wages much before the end of the decade."

Russel Lynch, economics correspondent at the Evening Standard, talks on what this will mean for London.

Related articles

More in Business

Government's Channel 4 privatisation plans accidentally revealed

The paper, labelled 'official - sensitive - commercial', was titled 'Assessment of Channel 4 Corporation reform options'

Rudeness in the workplace: Nine of the most offensive things...

What someone might view as a flippant comment could lead to repercussions

What to do if you own a Volkswagen diesel

Volkswagen has said 11 million cars are affected