Employment falls slightly but number in work still near record high
There were 32.39 million people in a job in the three months to August, a fall of 5,000 on the previous quarter, new figures show.
The number of people in work has remained at a near-record high despite a slight fall in employment, new figures show.
There were 32.39 million people in a job in the three months to August, a fall of 5,000 on the previous quarter.
It was the first fall since last autumn, although employment is still 289,000 higher than a year ago, the Office for National Statistics said.
Unemployment fell by 47,000 to 1.36 million, giving a jobless rate of 4%.
Average earnings increased by 2.7% in the year to August, from 2.6% the previous month.
Including bonuses, earnings grew by 3.1% compared with 2.9% in the previous period.
The number of people classed as economically inactive increased by 103,000 to 8.7 million after a similar rise in last month’s figures. The total included 52,000 students.
David Freeman, the ONS’s head of labour market, said: “People’s regular monthly wage packets grew at their strongest rate in almost a decade, but, allowing for inflation, the growth was much more subdued.
There were 464,000 unemployed people aged from 16 to 24 for June to August 2018, the lowest figure since records began for youth unemployment in 1992 https://t.co/fPWL2F634J pic.twitter.com/UMCvKDZvhi— ONS (@ONS) October 16, 2018
“The number of people in work remained at a near-record high, while the unemployment rate was at its lowest since the mid-1970s.
“However, there was a notable uptick in the number of people who were neither working nor looking for a job, particularly among students.”
The ONS said average weekly earnings, adjusted for inflation, increased by 0.7% excluding bonuses, compared with a year ago.
Other figures showed that job vacancies increased by 3,000 to a near-record 832,000.
Minister of State for Employment Alok Sharma said: “I am particularly encouraged that wages continue to be on the up, outpacing inflation for the seventh month in a row and regular pay is up 3.1% on the year.
“And with unemployment at its lowest since the 1970s, since 2010 there are more people with the security of a job, more people with a regular salary, and more people able to support their families – and that is thanks to action this Government has taken to build an economy that works for everyone.”
Work and Pensions Secretary Esther McVey said: “This month’s figures show youth unemployment has fallen by 50% since 2010, down to a new record low, showing our welfare reforms are working and giving young people a better future.”