UK jobless rate falls to lowest level since 2008

The BBC reports that the unemployment rate fell to 6.2 per cent over the three months to the end of July, its lowest level since 2008, official figures show. The number of jobless people fell by 146,000 to 2.02 million over the quarter, the Office for National Statistics (ONS) reported. Those claiming Jobseeker’s Allowance in August fell below one million for the first time in six years.

But average weekly earnings still lagged way behind inflation. Excluding bonuses, average earnings in the May to July period rose by 0.7 per cent from a year earlier; including bonuses, they rose by 0.6 per . The current rate of inflation is 1.5 per cent.