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9/15/2020, 8:01 AM (Source: TeleTrader)
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UK unemployment up to 4.1% in quarter to July

The rate of unemployment in the United Kingdom stood at 4.1% in the three months to July, according to data released by the Office for National Statistics on Tuesday. The reading marks a 0.2 percentage point increase from the previous quarter and a rise of 0.3 percentage points year on year.

The employment rate was estimated at 76.5%, up by 0.4 percentage points compared to the same period in the previous year. Meanwhile, there was a record low number of job vacancies in the April-to-June period as the figure came in at 434,000 but still jumped almost 30% compared to the June-to-August period.

Average weekly earnings in the three months to July adjusted for price inflation were negative 1.8% as nominal pay grew more slowly than inflation, while earnings in nominal terms were a negative 0.7%. Including bonuses, average weekly earnings adjusted for inflation were a negative 1%.

Breaking the News / VP