UK unemployment falls to new 42-year low
Mixed economic news in this article but the ongoing fall in unemployment (whatever the reasons) is astounding. The article tells us:
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 standing 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 – partly due to the introduction of a later state pension age for women.
There were 32.07 million people in work in the three months to June – 338,000 more than for the same period last year.