UK unemployment rate dropped slightly to 4.7% in the three months to June, down from 4.8%, better than expectation of 4.8%. That’s still 0.8% higher than before the pandemic, but -0.2% lower than the previous quarter. Employment rate was estimated at 75.1%, up 0.3% by the quarter, but still at -1.5% lower than before the pandemic.
ONS said: “The quarterly increase in employment was mainly driven by an increase in the number of full-time workers, which reached its highest level since before the start of the pandemic. While the number of people working part-time has decreased during the pandemic, in April to June 2021 there was the first quarterly increase in people working part-time since February to April 2020”.
Average earnings including bonus rose 8.8% 3moy, versus expectation of 8.7%. Average earnings excluding bonus rose 7.4% 3moy, matched expectations. In July, claimant count dropped -7.8k.
