According to CIPD, the figures will provide a morale boost for businesses and the government - particularly in the wake of the recent economic downturn and the coalition's decision to push ahead with its austerity programme.
CIPD's chief economic adviser, Dr John Philpott, said: "It's clearly good news week for the UK economy. The inflation rate is down, unemployment is down, and pay pressure is down."
However, he warned businesses not to get over-exuberant about the figures.
"While the jobs figures are apparently signalling green for go, they reflect an improvement in the labour market at the turn of the year and don't tell us anything much about the road ahead," he added.
According to the ONS, there are now 29.23 million people aged between 16 and 24 in full-time employment.
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Source: The Sales Director News