Monday , September 25 2017 3:04 pm
Home / International / Unemployment rate falls to 4.3% as wages stagnate

Unemployment rate falls to 4.3% as wages stagnate

UK unemployment fell by 75,000 in the three months to July, bringing the jobless rate down to 4.3% from 4.4% in the previous quarter.

The rate remains at its lowest since 1975, but a squeeze on real incomes continues, according to the Office for National Statistics figures.

Wages in the period were 2.1% up on a year earlier, little changed from the previous months’ growth rates.

With inflation hitting 2.9% in August, wages are failing to keep up.

In real terms, wages dropped by 0.4% in the three months to July.

Inflation has picked up sharply since the pound fell after the Brexit vote last year.

The data could further divide the Bank of England’s Monetary Policy Committee, which sets interest rates.


Source: BBC

Check Also

Mexico earthquake: Death toll rises as search for survivors goes on

The death toll from Mexico’s powerful earthquake has risen to 273, officials say, as rescuers …

Kim: ‘Deranged’ Trump will pay for speech

Kim Jong-un has said remarks by “deranged” US President Donald Trump have convinced him he …

North Korea says Trump speech is ‘a dog’s bark’

North Korea’s top diplomat has called US President Donald Trump’s speech to the UN “the …

Leave Your Comment

%d bloggers like this: