Unemployment in the United Kingdom falls once again


Scottish minister for employability and training Jamie Hepburn said: "These latest employment figures are encouraging and are among the highest on record with 2,655,000 people in work in Scotland".

UNEMPLOYMENT in Wales has fallen below United Kingdom levels with the rate between June and August dropping to four per cent while across the United Kingdom it was 4.3 per cent.

LONDON-U.K. workers' inflation-adjusted wages fell for the sixth consecutive month in August despite a tight domestic job market, new figures showed Wednesday, highlighting a continued living-standards squeeze that has been evident since last year's Brexit vote.

"I still think that the unemployment rate will fall to 4.1pc by Christmas", said Alan Clarke, economist at Scotiabank. Inflation rose to 3 percent in September from 2.9 percent in August.

Meanwhile, unemployment stayed at 4.3 per cent in the three months to August, the joint-lowest since 1975.

This meant that Britons' wages fell by 0.4% when adjusted for inflation, in a worrying sign for the country's largely domestic-driven economy.

"Our economy is helping to create full time, permanent jobs which are giving people across the United Kingdom the chance of securing a reliable income", said Minister for Employment, Damian Hinds.

Additionally as part of the Government's response to the recent Race Disparity Audit, the Department for Work and Pensions will target 20 hotspots where ethnic minority people are more likely to be unemployed.

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Data showed that the consumer price index including owner occupiers' housing costs (CPIH) climbed 2.8 percent year-on-year in September versus 2.7 percent in August.

The claimant count, which includes people on Jobseekers Allowance and the unemployment element of Universal Credit, increased by 1,700 last month to 804,000.

She said given the low wages and high inflation, we need our savings to work even harder in order to generate an inflation-beating return.

The news will increase expectations that the Bank of England will raise interest rates on 2 November.

"However, the prospect of raising interest rates when real wages are in negative territory will make this potential hike a tricky one.to justify".

Brooks added the BoE was facing the hard conditions: "Hike rates because inflation is high and unemployment is low, however, if you hike rates now you could put extra pressure on the consumer and a sharp break on the economy as we move into the end of the year".

The number of job vacancies has increased by 3,000 to a near-record high of 783,000.