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UK unemployment rate falls to 4% in the three months leading to July

  • by Career Moves News
  • 14 Sep 2018

According to the Office for National Statistics, in the three months to July, the unemployment rate in the UK held steady at 4 percent, the joint-lowest since 1975 and below market consensus of 4.2 percent.

Employment rose by 3,000 and the number of job vacancies hit a fresh record high, whilst the number of unemployed declined by 65,000 from January to March 2018, and 124,000 fewer than a year earlier.

People in work have increased to 32.4 million, which is 261,000 more than for a year earlier in the three months to July 2018. The employment rate has increased from a year earlier to 75.5 percent as opposed to 75.3 percent, yet this was slightly lower than for February to April 2018 (75.6 percent).

People in employment on ‘zero-hours contracts’ has decreased to 780,000, which is 104,000 fewer than for a year earlier.

Economic inactivity rate has rose by 21.2 percent, higher than the previous February to April 2018 period (21.0 percent) but remains unchanged when compared with a year earlier.

Job vacancies rose by 14,000 to an all-time high of 833,000 in the three months to August 2018 from 819,000 in the March to May period, driven by increases in vacancies in the following sectors:

  • Human health
  • Social work activities (4,000)
  • Administration and support service activities (3,000)
  • Accommodation and food service activities (6,000)
  • Wholesale and retail trade (3,000)
  • Education (2,000)
  • Construction (5,000)

Over the same period, vacancies declined in the following sectors:

  • Professional, Scientific and technical activities (-2,000)
  • Finance and insurance activities (-1,000)
  • Arts, entertainment and recreation (-4,000)
  • Information and Communication (-2,000)
  • Transport and storage (-1,000)

Year-on-year, job vacancies rose by 44,000. They have been on an upward trend since the period April to June 2009, when vacancies were at their lowest level of 432,000.

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