Britain’s unemployment rate reaches its lowest since 5 decad...| MENAFN.COM

Friday, 07 October 2022 03:38 GMT

Britain’s unemployment rate reaches its lowest since 5 decades


(MENAFN) UK unemployment rate stays close to 50-year lows, but salary values are decreasing at a high speed, with inflation at the highest level since years, based on official data on Tuesday.

Unemployment reached 3.8 per cent in the three months till the end of June, in agreement with the Office for National Statistics (ONS).

This was unaffected, against the three months till the end of May.

Darren Morgan, manager of economic statistics at the ONS, announced that although the latest data showed the figure of job opportunities stays "historically very high, it fell for the first time since the summer of 2020", after the UK briefly stopped a COVID-19 lockdown.

He went on to say that without bonuses, real pay "is still dropping faster than at any time since comparable records began in 2001".

This situation is going along with by UK inflation at a 4-decade high of 9.4 per cent on high energy and food costs.

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