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UK unemployment stays at 42-year low

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Unemployment in the UK fell by 57,000 in the three months to June, official figures show, bringing the jobless rate down to 4.4% – its lowest since 1975.The squeeze on real incomes continues to grow, though at a slower pace.Average weekly earnings increased by 2.1% compared with a year earlier – slightly higher than last month’s 2% increase.But with inflation continuing to run at 2.6%, real earnings still fell by 0.5%, the ONS figures showed.At 75.1%, the proportion of people in work is the highest it has been since 1971, in part due to the introduction of a later state pension age for women.
“The employment picture remains strong, with a new record high employment rate and another fall in the unemployment rate. Despite the strong jobs picture, however, real earnings continue to decline,” said Office for National Statistics senior labour market statistician Matt Hughes.”The number of workers born elsewhere in the EU continues to increase, but the annual rate of change has slowed markedly,” he added.Jobs were created in the construction, accommodation and food services sectors and transport and storage industries.The number of those employed on zero hours contracts as their main job fell 20,000 compared to a year earlier to 883,000 people.
Source: BBC