The U.K.’s unemployment rate decreased in the three months to August and pay growth accelerated, signaling that the country’s job market remained tight.
The U.K.’s unemployment rate was 3.5% in the three months to August, down from a revised 3.8% in the preceding three-month period, data from the Office for National Statistics showed Tuesday. Economists polled by The Wall Street Journal expected the jobless rate at 3.6%.
Employment increased further in September. The number of pay-rolled employees rose by 69,000 on month to a record of 29.7 million.
Wage growth accelerated as employers stepped up their efforts to retain staff. Average weekly earnings excluding bonuses in the three months to August rose 5.4% on year, more than the 5.2% increase registered in the preceding three-month period. Adjusted for inflation, earnings without bonuses decreased 2.9%.
Write to Maria Martinez at [email protected]
