UK unemployment dips to +2.46m

The number of people unemployed in the UK fell by 49,000 to 2.46 million in the three months to June, figures show.

The decline in the jobless total was the biggest drop in three years.

The number of people employed increased by 184,000, the largest quarterly rise since 1989, the Office for National Statistics (ONS) said.

The figures also showed that the claimant count, or those out of work and seeking unemployment benefit, fell by 3,800 in July to 1.46 million. ‘With sharp public sector job cuts looming, we still think that renewed rises in unemployment lie ahead’ said Vicky Redwood Capital Economics

The rise in the number of those employed was largely the result of an increase in the number of part-time workers of 115,000, taking the total to 7.84 million, the highest figure since comparable records began in 1992, the ONS said.

The number of full-time workers increased by 68,000 on the quarter to reach 21.18 million.

BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell