UK unemployment falls to new 42-year low

[Perthbum]

Downside is wages are falling behind..

 

Unemployment in the UK fell by 57,000 in the three months to June, official figures show, bringing the jobless rate down to 4.4% - its lowest since 1975.

The squeeze on real incomes continues to grow, though at a slower pace.

Average weekly earnings increased by 2.1% compared with a year earlier - slightly higher than last month's 2% increase.

But with inflation standing at 2.6%, real earnings still fell by 0.5%, the ONS figures showed.

At 75.1%, the proportion of people in work is the highest it has been since 1971 - partly due to the introduction of a later state pension age for women.

There were 32.07 million people in work in the three months to June - 338,000 more than for the same period last year.

[bristolman]

Bloody Brexit, coming over here giving people jobs lol.

The problem with saying inflation is 2.6% and wages increased 2.1% is that is too simplistic. Everything hasn't gone up 2.6%, our grocery bill hasn't increased at all that we can tell. Because of the massive choice and strong competition if something goes up just change brands. My wife just got a pay increase of over 4%, some get more some get less, it's never been any different. 

[Perthbum]

3 hours ago, bristolman said:

Bloody Brexit, coming over here giving people jobs lol.

The problem with saying inflation is 2.6% and wages increased 2.1% is that is too simplistic. Everything hasn't gone up 2.6%, our grocery bill hasn't increased at all that we can tell. Because of the massive choice and strong competition if something goes up just change brands. My wife just got a pay increase of over 4%, some get more some get less, it's never been any different. 

I agree, at least the price of a good pint can be had for around £2 if you look around