UK unemployment fell unexpectedly to 4.7% in the three months to August, down from 4.9%, according to figures from the Office for National Statistics reported by The Guardian. Economists had forecast a rise to 5%.
Payrolled employment rose by 13,000 in September compared with August, reaching 30.3 million. Job vacancies, however, dropped by 21,000 to 691,000 in the three months to September, the lowest level since 2021.
Wage growth including bonuses slowed to 3.7% from 3.9%, while regular pay growth excluding bonuses edged up to 3.7%. That remains above the 3.1% inflation rate, a gap the Bank of England is watching closely because of the risk that higher pay settlements push prices up further. The figures arrive ahead of the Budget on 28 October.
Source: The Guardian
