Unemployment rates have dropped

People worried about unemployment in the current climate and considering the best loan interest rates will be pleased to hear some good news.

Phil Flaxton, chief executive officer of Work Wise UK, said that the underlying trend in the recruitment market is "cautiously upwards".

His comments follow figures released by the Office for National Statistics which revealed that there had been a reduction in unemployment since the previous quarter.

The unemployment rate for the three months to May 2011 was 7.7 per cent of the economically active population, down 0.1 on the quarter.

"Any reduction [in unemployment] is good. It is a positive step in the right direction," said Mr Flaxton.

However, he added to those considering the best loan interest rates that "the job market still remains fragile, and we have yet to see in summer the round of young people leaving colleges and schools to find employment".

He suggested that it is possible this rise in unemployment is the calm before the storm.

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2011-07-15 13:08:59 © Moneyextra.com