Introduction: UK jobless rate drops<\/h2>\n<\/header>\n
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.<\/strong><\/p>\n Unemployment across the UK has dropped unexpectedly, as more people find work \u2013 or drop out of the labour market altogether.<\/p>\n The latest labour market data, just released, show that the UK unemployment rate has fallen to 4.2% in April-June \u2013 the last quarter before the general election in July.<\/p>\n Economist had expected a rise, from 4.4% to 4.5%.<\/p>\n But according to the Office for National Statistics, 51,000 fewer people were unemployed in the quarter, taking the total down to 1.435 million.<\/p>\n Employment picked up, by around 97,000 people, to 33.094 million.<\/p>\n But more people dropped out of the labour market altogether — often due to sickness, or caring responsibilities \u2013 lifting the economic inactivity rate to 22.2%.<\/p>\n We\u2019ve published the latest UK labour market figures. Employment was 74.5% Read Labour market overview \u27a1\ufe0f https:\/\/t.co\/vQQj7Ifzgi<\/a> pic.twitter.com\/bcwZzdJXpO<\/a><\/p>\n \u2014 Office for National Statistics (ONS) (@ONS) August 13, 2024<\/a><\/p><\/blockquote>\n<\/div>\n <\/gu-island><\/figure>\n The ONS also estimates that vacancies in the UK decreased in May to July 2024 by 26,000 on the quarter, to 884,000.<\/p>\n ONS <\/strong>director of economic statistics Liz McKeown <\/strong>says:<\/p>\n\n
Headline indicators for the UK labour market for April to June 2024 show:<\/p>\n
Unemployment was 4.2%
Economic inactivity was 22.2%<\/p>\n\n