UK Unemployment Rate at 42-Year Low


UK unemployment rate declined to 4.3 percent in the three months to August of 2017 from 4.5 percent in the March to May period, in line with market expectations. It was the lowest jobless rate since 1975, as the number of unemployed continued to fall.

There were 1.44 million unemployed people, 52,000 fewer than for March to May 2017 and 215,000 fewer than for a year earlier. The unemployment rate was 4.3 percent, down from 5.0% for a year earlier and the joint lowest since 1975.

There were 32.10 million people in work, 94,000 more than for March to May 2017 and 317,000 more than for a year earlier. The employment rate was 75.1 percent, up from 74.5 percent for a year earlier.

There were 8.81 million people aged from 16 to 64 who were economically inactive, 17,000 fewer than for March to May 2017 and 13,000 fewer than for a year earlier. The inactivity rate was 21.4 percent, down slightly from a year earlier.

Latest estimates show that average weekly earnings for employees in the UK in nominal terms (that is, not adjusted for price inflation) increased by 2.2 percent including bonuses, and by 2.1 percent excluding bonuses, compared with a year earlier. In real terms (that is, adjusted for price inflation), average weekly earnings fell by 0.3 percent including bonuses, and by 0.4 percent excluding bonuses, compared with a year earlier.

UK Unemployment Rate at 42-Year Low


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/18/2017 8:40:37 AM