Unemployment falls but real wages take a dive too

The number of people unemployed in the UK has fallen to 6.6% in the three months to April 2014.

There are now 2.16 million people out of work (as of April), a drop of 161,000 in three months, according to the Office for National Statistics.

The number of people who are economically inactive, ie not working or claiming benefits, has also fallen to 8.82 million, a drop of 80,000 on the previous three months.

This good news for the labour market is somewhat tempered by new ONS figures which found earnings growth fell sharply from 1.9% to 0.7% in May, meaning real wages are falling again, taking inflation into account.

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