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Financial News: UK Unemployment Rate Falls In Q2

UK Unemployment Rate Falls In Q2

08/17/2021 - 03:21:00 (RTTNews)

(RTTNews) - The UK unemployment rate declined in the second quarter, the Office for National Statistics reported Tuesday.

The unemployment rate dropped 0.2 percentage points to 4.7 percent in the second quarter. This was slightly below the expected rate of 4.8 percent.

At the same time, there was a quarterly increase in the employment rate of 0.3 percentage points to 75.1 percent.

Average earnings including bonuses grew 8.8 percent and that earnings excluding bonuses increased 7.4 percent in three months to June.

However, annual growth in average employee pay is being affected by temporary factors that have inflated the increase in the headline growth rate, the ONS said.

Data showed that claimant count dropped by 7,800 in July from the previous month.

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