UK Unemployment Rate Drops to Lowest Since 1975


UK unemployment rate declined to 4.3 percent in the three months to July of 2017 from 4.6 percent in the February to April period and below market expectations of 4.4 percent. It was the lowest jobless rate since the three months to May of 1975, as the number of unemployed continued to fall.

There were 1.46 million unemployed people, 75,000 fewer than for February to April 2017 and 175,000 fewer than for a year earlier. The unemployment rate was 4.3 percent, down from 4.9 percent for a year earlier and the lowest since 1975.

There were 32.14 million people in work, 181,000 more than for February to April 2017 and 379,000 more than for a year earlier. The employment rate was 75.3 percent, the highest since comparable records began in 1971.

There were 8.74 million people aged from 16 to 64 who were economically inactive, 107,000 fewer than for February to April 2017 and 96,000 fewer than for a year earlier. The inactivity rate was 21.2 percent, down from 21.6 percent for a year earlier and the lowest since comparable records began in 1971.

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

UK Unemployment Rate Drops to Lowest Since 1975


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/13/2017 8:37:57 AM