Office for National Statistics (ONS) figures shows that the United Kingdom (UK) unemployment rate has fallen to the lowest since 1975.
The ONS figures shows that the number of people out of work fell by 13,000 to 1.281 million.
ONS head of labour market David Freeman said: “While the estimate of the employment rate nudged up in the most recent quarter, the longer-term picture has seen it broadly flat over the last few quarters. However, unemployment among women has reached a new record low.
“Vacancies have fallen for 10 months in a row and are now below 800,000 for the first time in over two years.
“Pay is still increasing in real terms, but its growth rate has slowed in the last few months.” He added.
The estimated employment rate for men was 80.4% and for women was 72%. estimated 794,000 vacancies in the UK for September to November 2019.
Chancellor Sajid Javid said: “There’s talent up and down this country – three-quarters of employment growth in the last year has been outside London and the South East.“
“I’m looking forward to getting Brexit done and unleashing Britain’s potential, levelling up opportunity across the country.” He added.
Tej Parikh, chief economist at the Institute of Directors, said: “The UK’s jobs boom continues to be a big plus point for the economy, but it is slowly losing momentum.
“Businesses have shown a strong appetite to take on staff in recent years, and climbing employment levels have boosted household incomes, adding buoyancy to the economy. However, firms are now cutting back on new hires as it becomes harder to find the skills they need.
“Uncertainty and slowing global growth have also made businesses a bit more cautious in their recruitment plans, and vacancies are expected to continue falling into 2020.” Parikh added.
Moreover, the unemployment rate depreciation comes as efforts of the current UK administration to eradicate unemployment in UK.