Britain 'is creating jobs faster than US' and may soon exit longest double-dip recession since the Second World War
The total number of those in work has risen by 1.75 per cent, or 510,000 jobs, in the past year, outpacing the US with 1.37 per cent
However, 1.4million are working part-time and want a full-time job
By Ben Griffiths, City News Editor
The economy is expected to return to growth this week as figures suggested Britain is creating jobs at a faster rate than the United States.
If predictions prove correct, the end of the longest double-dip recession since the Second World War will be a much-needed boost to Chancellor George Osborne.
It comes just days after employment figures reached an all-time high.
Chancellor George Osborne was out running in Westminster early this morning, at the start of a crucial week which is expected to see Britain declared to be out of recession on Thursday
The total number of those in work has risen by 1.75 per cent, or 510,000 jobs, in the past year to 29.59million – the highest since records began in 1971, according to the Office for National Statistics.
That increase outpaced the 1.37 per cent gain in employment registered in the US
It also adds weight to the argument that Britain's economic situation is far better than troubled eurozone countries such as Spain and Greece, where 25 per cent of the population is unemployed.
However, 1.4million are working part-time but would like a full-time job. Gross domestic product figures due on Thursday are likely to show the economy has grown by between 0.4 and 0.8 per cent.
Chris Williamson of financial data experts Markit, said: 'GDP is expected to have rebounded sharply in the third quarter.' He added that the Olympics and fewer bank holidays in this quarter will have helped the positive trend.
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Experts' estimates of growth in the three months July, August and September range from zero to 1 per cent, with an average of 0.6 per cent. Consumer confidence has risen but there are fears over prices in 2013, when higher energy bills threaten to push up inflation, a survey by business advisers Deloitte found.
Meanwhile, a report from accountants Ernst & Young found weak growth had forced up the number of profit warnings from firms during the third quarter – its highest level since 2008.