Unemployment drops to 7.7%

Unemployment has dropped by 0.1% to 7.7% between May and July. The Bank of England said interest rates are unlikely to be raised before it falls to 7%. But the number of part-time workers has risen to a record 1.45 million.

PM warns against complacency in recovery

David Cameron during Prime Minister's Questions today.

There is still a long way to go when it comes to Britain's economic recovery, Prime Minister David Cameron said today.

Speaking during Prime Minister's Questions, Mr Cameron said: "Of course it's welcome when unemployment falls but we have got a long way to go.

"As the Chancellor said, 'We are turning the corner'. But we have got to build this recovery. We have got to go on backing businesses, we have got to go on dealing with our debts.

"There must be absolutely no complacency as we do everything we can to make sure this recovery delivers for hard-working people."

But Labour leader Ed Miliband said the Government was guilty of "total complacency and total hubris at a time when even today unemployment is rising in half of the country."

Unemployment edges closer to key 7% mark

Mark Carney said interest rates would remain at 0.5% until unemployment fell to 7%. Credit: PA

Today's 7.7% unemployment figure edges slightly closer to the 7% mark at which Bank of England governor Mark Carney said he would consider a rise in interest rates.

The 80,000 jobs added between May and July chips away at the 750,000 new positions thought to be needed to trigger a rates rise.

Mr Carney's forward guidance was issued in an attempt to provide a level of certainty to markets.

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Labour: Families battling while Osborne is boasting

Labour’s shadow work and pensions secretary Liam Byrne said:

Today's headline fall in unemployment is welcome, but what today's figures expose is that while out of touch ministers are boasting, families are battling.

They're battling another fall in wages, another rise in youth unemployment and yet another rise in long term unemployment.

We need a recovery that benefits everyone, not just a few at the top.

That is why Labour wants to help to make work pay by introducing a lower 10p starting rate of tax, paid for by a mansion tax, and to repeat the tax on bank bonuses to pay for a compulsory jobs guarantee for young people.

Vince Cable's economy warning is 'embarrassing slap-down to Osborne'

Unemployment rate highest in North East

This regional unemployment table between May and July 2013 shows the total unemployed, change on previous quarter and the unemployment rate.

The North East recorded the highest unemployment rate while the South East was the lowest at 5.8%.

  • North East: 136,000, plus 5,000, 10.4%
  • North West: 285,000, plus 13,000, 8.3%
  • Yorkshire and The Humber: 245,000, plus 1,000, 8.9%
  • East Midlands: 168,000, minus 11,000, 7.4%
  • West Midlands: 267,000, plus 7,000, 9.8%
  • East of England: 211,000, plus 3,000, 6.7%
  • London: 359,000, minus 7,000, 8.3%
  • South East: 267,000, minus 29,000, 5.8%
  • South West: 167,000, minus 1,000, 6.2%
  • Wales: 118,000, minus 7,000, 8%
  • Scotland: 203,000, plus 10,000, 7.4%
  • Northern Ireland: 60,000, minus 8,000, 6.9%

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