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Financial News: UK Jobless Rate Rises; Earnings Growth At 11-Year

UK Jobless Rate Rises; Earnings Growth At 11-Year High

08/13/2019 - 05:00:00 (RTTNews)

(RTTNews) - The UK unemployment rate increased in three months to June and average earnings grew at the fastest pace in eleven years, data from the Office for National Statistics showed Tuesday.

The jobless rate increased by 0.1 percentage points on quarter to 3.9 percent in three months to June. Unemployment rose by 31,000 to 1.33 million.

In three months to June, employment increased by 115,000 to reach a record 32.81 million. But the employment rate remained unchanged at 76.1 percent.

Total average weekly pay grew 3.7 percent in the year to June to GBP 538. This was the highest growth rate recorded since June 2008. Excluding bonus, average pay climbed 3.9 percent, also the fastest since June 2008.

In July, the claimant count rate held steady at 3.2 percent. The number of people claiming jobseekers allowance increased by 28,000 from June.

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