UNEMPLOYMENT in Bolton has dropped by nearly nine per cent in the last year according to latest figures.

The number of people out of work in the borough in January this year was 3,700 compared with 4,054 a year ago.

But the unemployment rate of 3.1 per cent still leaves Bolton's jobless total as the fourth highest of Greater Manchester's ten boroughs.

Over the last eight years, there has been a huge fall in the number of unemployed.

In 1997, more than 7,000 people were claiming benefits compared with this year's 3,700 jobless.

The figures published by Manchester Enterprise have been welcomed by business leaders in the town.

Paul Foster, policy manager for Bolton and Bury at Greater Manchester Chamber of Commerce, said: "This is encouraging news for the borough as a whole.

"Unemployment means wasted human capital and this has been a drain on the taxpayer.

"According to Government statistics there are almost 80 per cent of people in Bolton who are either in work or actively looking for work, a rate which is higher than the regional and national averages.

"These figures show that Bolton is performing well and that we are breaking the cycle of inter-generational unemployment which has links to so many other social problems."

Unemployment across Greater Manchester increased in the last quarter of last year to 38,012 people.

The UK average is 3.2 per cent.