Economic Buzz: UK Unemployment Rate Stable At 3.8%

19 Jul 2022 , 02:20 PM

The UK unemployment rate remained unchanged in three months to May, data from the Office for National Statistics showed. The ILO unemployment rate came in at 3.8 percent in three months to May, unchanged from three months to April but down by 0.1 percentage points on the quarter. Payrolled employees increased 31,000 on the revised May figures, to a record 29.6 million in June. In the three months ended May, the average total pay including bonuses grew 6.2 percent from the last year but slower than the expected 6.7 percent increase. At the same time, growth in regular pay excluding bonuses increased 4.3 percent. In the second quarter, the number of job vacancies rose to 1,294,000. However, the rate of growth in vacancies continued to slow down.Powered by Commodity Insights