Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
The UK unemployment rate edged lower in the three months to July, but wage growth abated, numbers on Tuesday showed.
According to the Office for National Statistics, the jobless rate faded to 4.1% in the three months to July, from 4.2% in the three months to June. The latest figure landed in line with FXStreet cited consensus.
Wage growth eased. Averages earnings excluding bonuses rose 5.1% in the three month, cooling from 5.4% in the three months to June. The figure for July was in line with expectations.
‘Growth was last lower than this in April to June 2022, when it was 4.7%,’ the ONS said.
Annual growth in total earnings, so including bonuses, was 4.0%, a figure the ONS said was skewed by NHS and civil service one-off payments made in June and July of 2023. Growth in earnings including bonuses eased from 4.6% in three months to June.
The latest figure fell short of an FXStreet-cited forecast of a 4.1% rise.
Copyright 2024 Alliance News Ltd. All Rights Reserved.