Market news
15.10.2019, 08:44

UK unemployment rate unexpectedly rose from June to August

According to the report from Office for National Statistics, the UK employment rate was estimated at 75.9%, higher than a year earlier (75.6%) but 0.2 percentage points lower than the previous quarter.

  • the estimated employment rate for men was 80.2%; this is largely unchanged on the year and on the quarter

  • the estimated employment rate for women was 71.6%; this is 0.6 percentage points up on the year, but 0.3 percentage points down on the quarter

The UK unemployment rate was estimated at 3.9%, this is lower than a year earlier (4.0%) but 0.1 percentage points higher than the previous quarter. Unemployment was expected to remain at 3.9%.

The UK economic inactivity rate was estimated at 21.0%, this is lower than a year earlier (21.2%) but 0.1 percentage points higher on the previous quarter.

Estimated annual growth in average weekly earnings for employees in Great Britain was 3.8% for both total pay (including bonuses) and regular pay (excluding bonuses). Economists had expected a 3.7% increase.

In real terms (after adjusting for inflation), annual growth in total pay was estimated to be 1.9% and annual growth in regular pay was estimated to be 2.0%.

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