Wednesday , November 22 2017 5:09 am
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

Zimbabwe latest: Defiant Mugabe makes first public appearance

Zimbabwe’s President Robert Mugabe has made his first public appearance since the country’s army took …

Zimbabwe latest: Mugabe ‘resisting calls to resign’

Zimbabwe’s long-time President Robert Mugabe is reportedly refusing to step down immediately, despite growing calls …

Zimbabwe awaits next steps after military takeover

Zimbabweans are waiting to see what steps the military will take next after seizing control …

Leave Your Comment

%d bloggers like this: