Home BUSINESS UK unemployment rate falls

UK unemployment rate falls

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The UK unemployment rate fell to the lowest for nearly 10 years at 5.2% in the three months to October.image
It was the lowest jobless rate since the three-month period to January 2006, according to the Office for National Statistics (ONS).
The number of people out of work fell by 110,000 to 1.71 million between August and October.
There were 31.3 million people in work, 505,000 more than for a year earlier.
Joblessness had been expected to remain at 5.3%, where it was a month ago, according to a poll of economists by news agency Reuters.
The figures also show EU citizens working in the UK increased by 324,000 to 2.02 million, whereas workers who were neither EU nationals or Britons were “little changed” at 1.20 million.
The jobless rate a year ago was 6%.
The pay of workers grew at its slowest rate since the January to March period, in spite of the unemployment dip.
Total pay grew 2.4%.
“Earnings continue to grow in real terms, although at a slower rate than we have seen in recent months,” ONS statistician David Freeman said.
Vacancies of 747,000 in the jobs market have not been higher since data began in 2001, said the ONS.

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