UK Unemployment for the three months to May31st released by the ONS (Office of National Statistics) fell by 57,000, now standing at 2.51million, substantially lower than analysts had expected.

The overall unemployment rate now stands at 7.8% of a workforce in the UK of 29.76 million people, this number being just over 400,000 jobs higher than a year ago. However the public sector are still reducing jobs, a further 22,000 lost in the period but made up for in the private sector that added 45,0000 positions to the central pool during the quarter.

One of the most vulnerable areas, the young unemployed, had its numbers cut by 20,000 but there are still over 900,000 looking for jobs.