UNEMPLOYMENT is at its lowest level since the mid-1970s, official figures reveal.

The National Statistics show unemployment has fallen to 4 per cent, with 1.15 million fewer unemployed people since 2010.

The figures show that the UK saw a sixth continuous month of real-terms pay increases, with regular wages up by 2.9 per cent in July.

Meanwhile the employment rate totals 75.5 per cent, with more than 3.3 million more people in work since 2010 and youth unemployment at a record low, falling by more than 45 per cent since 2010.

First Minister of Wales Carwyn Jones said: “Unemployment in Wales now stands at 3.8 per cent, the lowest level since records began and outperforming the UK as a whole. At 74.8 per cent, employment in Wales is 2.4 percentage points up on this time last year.

“Today’s figures are testament to the support we provide to businesses in Wales. Only today Aston Martin announced that St Athan is to become the centre for electrification and the home of its Lagonda brand which is another huge vote of confidence in the Welsh Government’s ‘can do’ attitude.

“We will continue to do everything we can to build on this success and ensure our economy is in the strongest possible position to face the significant challenges ahead.”

The UK Government's secretary of state for work and pensions, Esther McVey, said: “Since 2010 we have delivered significant growth in jobs, and in the last six months we have seen real terms wage growth.

“We haven’t had a lower unemployment rate for over forty years and I’m especially proud that youth unemployment is at a record low, falling by over 45 per cent since 2010 - opening up career opportunities for our next generation.

“In the EU we see unemployment rates over double those of the U.K. This Government is transforming this country into a great working nation. Ready and prepared for the future challenges after Brexit.”

And the minister for employment Alok Sharma added: “With unemployment rate still at its lowest level in 43 years, it is good to see that for the sixth month in a row wages have grown faster than inflation helping to put more money in people’s pockets. In the last quarter regular pay is up by 2.9 per cent, 0.5 per cent above inflation. Households across the country are benefitting from the security of being in work."