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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.

Please read more here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/september2018 

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