wage growth

The UK unemployment rate fell by a further 75,000 in the three months to July, maintaining the rate’s lowest level since 1975.

The jobless rate now stands at just 4.3 percent, according to the latest statistics from the Office for National Statistics, down from 4.4 percent in the previous quarter.

There were 32.14 million people in work in the three months to July, 181,000 more than for February to April 2017 and 379,000 more than for a year earlier.


The employment rate is currently at its highest since comparable records began in 1971. However, despite the fall in unemployment, the squeeze on real incomes continues as the latest inflation figure, released yesterday, continues to rise.

Matt Hughes, a senior ONS statistician, said: “Another record high employment rate and a record low inactivity rate suggest the labour market continues to be strong.

“In particular, the number of people aged 16 to 64 not in the labour force because they are looking after family or home is the lowest since records began, at less than 2.1 million.

“Despite earnings rising by 2.1 percent in cash terms over the last year, the real value of people’s earnings is down 0.4 percent.”

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