UK unemployment rate falls
Finance News
UK unemployment rate falls
The UK unemployment rate fell to a seven-year low of 5.4% in the three months to August, figures have shown.
It was the lowest jobless rate since the second quarter of 2008, the Office for National Statistics said.
The number of people out of work was 1.77 million between June and August, down 79,000 from the previous quarter.
The number in work rose by 140,000, bringing the employment rate to 73.6% – the highest rate since records began in 1971.
Some 22.77 million people were working full-time in the three months to August, up 291,000 compared with the same period last year.
The number working part-time rose 68,000 to 8.35 million.
In the three months to August, workers’ total earnings, including bonuses, were up 3% from a year earlier – slightly less than expected.
Excluding bonuses, growth in average weekly earnings slowed slightly to 2.8%.
Rising pay is a factor used by the Bank of England in considering when to start raising interest rates.
Wage growth remains weaker than before the financial crisis, but has gathered pace faster than the Bank predicted earlier this year.
Source: BBC News (published 14 October)
How much has the UK unemployment rate fallen by? http://bit.ly/ClientNewsletter16102015