Unemployment falls to five-year low

The ONS has revealed that the number of people out of work in the UK fell by 133,000 to 2.2m, or 6.8% of the population, in the three months to March. Average earnings grew 1.7% year-on-year, meaning that with inflation at 1.6% in March as measured by CPI, wages outpaced inflation for the first time since 2010. The growth rate in wages - which includes bonuses - was unchanged from the previous month. The ONS said the number of self-employed people in the UK has risen by 375,000 since March 2013 to nearly 4.6m, outstripping the 351,000-strong increase in full- and part-time employees in the private and public sectors. Employment minister Esther McVey said: “As the recovery takes hold, more people are able to get a job or set up their own business and become the employers of tomorrow.” The Daily Telegraph, Business, Page: 1, 4 The Sun, Page: 12