UK Jobless Rate Unchanged at 42-Year Low


The jobless rate in the UK stood at 4.2 percent in the three months to May, its joint-lowest since 1975. The number of unemployed declined by 12,000 from the December to February period while 137,000 jobs were created, bringing the employment rate to a record high of 75.7 percent. Still, wage growth eased to a six-month low.

There were 1.41 million unemployed people, 12,000 fewer than for December 2017 to February 2018 and 84,000 fewer than for a year earlier. The unemployment rate was 4.2 percent, down from 4.5 percent for a year earlier and the joint lowest since 1975.

There were 32.40 million people in work, 137,000 more than for December 2017 to February 2018 and 388,000 more than for a year earlier. The employment rate was 75.7 percent, higher than for a year earlier (74.9 percent) and the highest since comparable records began in 1971.

There were 8.64 million people aged from 16 to 64 years who were economically inactive, 86,000 fewer than for December 2017 to February 2018 and 184,000 fewer than for a year earlier. The inactivity rate was 21.0 percent, lower than for a year earlier (21.5 percent) and the joint lowest since comparable records began in 1971.

Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 2.7 percent excluding bonuses, and by 2.5 percent including bonuses, compared with a year earlier. Meanwhile, average weekly earnings for employees in Great Britain in real terms (that is, adjusted for price inflation) increased by 0.4 percent excluding bonuses, and by 0.2 percent including bonuses, compared with a year earlier.

UK Jobless Rate Unchanged at 42-Year Low


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/17/2018 9:07:11 AM