According to the latest ONS figures, unemployment has fallen to 1.83 million, its lowest in seven years. This figure makes encouraging reading for the UK economy.
Meanwhile, the employment rate grew to 73.5%, the highest level since records began in 1971.
Another encouraging statistic is the increase of average pay for employees which rose to 2.2% (excluding bonuses) compared to the last quarter from October to December 2014.
The Conservative Work and Pensions Minister, Priti Patel expressed her delight at the release of the unemployment figures.
"This is a testament to our long-term economic plan, the work the government has been doing with our focus on job creation, creating the right economic conditions for businesses to expand and grow so they can employ people again, so this is very welcome news today," she said.
John Hawksworth, chief economist at PwC, said the British economy had become "an incredible job-creating machine".
"There are also more convincing signs than ever before that this extra demand for labour is causing the market to tighten, pushing up regular pay growth to 2.2%," he said.*
*Sources: http://www.bbc.co.uk/news/business-32719779
http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/may-2015/sty-labour-market-statistics--may-2015.html
