UK unemployment rate remains steadily High at 4.9% Despite Brexit fears

The number of people unemployed in the UK stayed constant at 4.9% which is nearly the lowest rate in 11 years.

Unemployment increased by 10,000 to 1.66 million, according to figures released by the Office for National Statistics (ONS).

ONS statistician Nick Palmer said “These figures show that employment continued to grow over the summer and vacancies remain at high levels, suggesting continuing confidence in the economy.”

The number of people employed stayed at a record high of 31.8 million. Employment Minister Damian Hinds said “But there’s more to do, particularly when it comes to supporting young people into employment.”

The ONS said that total earnings including bonuses rose by an annual 2.3 percent, compared with 2.4 percent in the three months to July.

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The main points of the report are below:

  • Between March to May 2016 and June to August 2016, the number of people in work and the number of unemployed people increased. The number of people not working and not seeking or available to work (economically inactive) fell.
  • There were 31.81 million people in work, 106,000 more than for March to May 2016 and 560,000 more than for a year earlier.
  • There were 23.23 million people working full-time, 362,000 more than for a year earlier. There were 8.58 million people working part-time, 198,000 more than for a year earlier.
  • The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.5%, the joint highest since comparable records began in 1971.
  • There were 1.66 million unemployed people (people not in work but seeking and available to work), 10,000 more than for March to May 2016 but 118,000 fewer than for a year earlier.
  • There were 891,000 unemployed men, 12,000 fewer than for March to May 2016 and 81,000 fewer than for a year earlier.
  • There were 765,000 unemployed women, 23,000 more than for March to May 2016 but 37,000 fewer than for a year earlier.
  • The unemployment rate was 4.9%, unchanged compared with March to May 2016 but down from 5.4% for a year earlier. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.
  • There were 8.81 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 65,000 fewer than for March to May 2016 and 231,000 fewer than for a year earlier.
  • The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.5%, the joint lowest since comparable records began in 1971.
  • Average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 2.3% both including and excluding bonuses compared with a year earlier.