• U.K. unemployment reached the lowest level since late 2008

Market news

17 September 2014

U.K. unemployment reached the lowest level since late 2008

The U.K. Office for National Statistics released its labour market data. The unemployment rate in the U.K. fell to 6.2% in July from 6.4% in June, beating expectations for a decline to 6.3%. That was the lowest level since late 2008.

The claimant count declined by 37,200 people in August, exceeding expectations for a drop of 29,700 people, after a decrease of 37,400 people in July. July's figure was revised up from a fall of 33,600 people.

The average earnings index including bonuses increased 0.6% in the three months to July, beating forecast of a 0.5% rise, after a 0.1% decline in the three months to June. June's figure was revised up from a 0.2% drop.

The average earnings index excluding bonuses climbed 0.7% in the three months to July, after a 0.7% gain in the three months to June. June's figure was revised up from a 0.6% increase.

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