The rate of unemployment dropped to four per cent in the three month to August 2024, according to the latest figures from the Office for National Statistics (ONS).
This represents a boon for the UK economy as prior forecasts had estimated unemployment coming in at 4.1 per cent.
Based on the ONS’ latest report, the number of people claiming jobless benefits went by 27,900 in September.
In comparison, claims for jobless benefits from the Department for Work and Pensions (DWP) jumped 23,700 in August, surpassing the expected 20,200 figure.
Over the three months to August, regular pay, excluding bonuses, went up at an annual pace of 4.9 per cent.
While that marked a slowdown in pay growth, wages are still rising faster than inflation.
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