U.K. Unemployment Rate Rises

avatar
· Views 1,146
 The U.K. unemployment rate increased and employment declined in three months to August as the pandemic weighed on the labor market, data from the Office for National Statistics showed Tuesday.

The ILO jobless rate rose by 0.4 percentage points from the preceding quarter to 4.5% in three months to August. The rate was above economists' forecast of 4.3%.

Unemployment increased by 138,000 from the prior quarter to 1.52 million.

The ONS said there were also around 192,000 people away from work because of the pandemic and receiving no pay in June to August.

The employment rate fell by 0.3 percentage points to 75.6% in three months to August.

Employment totalled 32.59 million, which was 153,000 fewer than the previous quarter.

Further, data showed that average total pay including bonus remained unchanged from the same period last year and earnings excluding bonuses grew 0.8%.

In September, the claimant count rate rose to a seasonally adjusted 7.6% from 7.5% in August.

The number of people claiming unemployment benefits increased by 28,100 in September from the previous month.

 

 

Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.

Like this article? Show your appreciation by sending a tip to the author.
Reply 0

Leave Your Message Now

  • tradingContest