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Financial News: UK Employment Falls; Jobless Rate Rises

UK Employment Falls; Jobless Rate Rises

09/15/2020 - 03:07:00 (RTTNews)

(RTTNews) - UK payroll employment declined and the unemployment rate advanced in three months to July, data from the Office for National Statistics revealed Tuesday.

The jobless rate came in at 4.1 percent in three months to July, which was 0.2 percentage point higher than the previous quarter. The rate came in line with expectations.

The number of people unemployed increased by 76,000 on the year to 563,000 in three months to July.

The number of employees on payrolls was down around 695,000 compared with March 2020.

Further, average earnings including bonus decreased 1 percent in May to July, while excluding bonus, regular pay gained 0.2 percent.

Data showed that claimant count rose by 73,700 in August from the previous month to 2.7 million. The expected rise was 100,000.

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