September 14, 2022
In the three months leading up to July, according to figures released by the Office for National Statistics, the UK’s jobless rate fell to its lowest point in 48 years.
In the three months leading up to July, the unemployment rate dropped to 3.6 percent, the lowest level since May to July 1974. The rate was recorded at 3.8%.
Payrolled employees reached a record 29.7 million in August, up 71,000 from July.
Average earnings, including bonuses, increased by 5.5 percent over the last year in the three months to July, which was a little quicker growth than the forecasted 5.4 percent. Earnings growth, excluding bonuses, grew by 5.2 percent yearly as opposed to the 5.0 percent predicted by economists.
Up until August, there were 1,266,000 open positions, a fall of 34,000 sequentially. Since June to August 2020, this quarter’s decline was the greatest.
Source: RTTNews
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