UK Unemployment Rate fell to 4.9%

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Wednesday, Jul 20 2016

Between the 3 months to February 2016 and March to May 2016, the number of people in work increased. The number of unemployed people and the number of people not working and not seeking or available to work (economically inactive) fell. There were 31.70 million people in work, 176,000 more than for the 3 months to February 2016 and 624,000 more than for a year earlier. For June 2016 there were 759,100 people claiming unemployment related benefits. This was little changed compared with May 2016 and 33,900 fewer than for a year earlier.

There were 23.19 million people working full-time, 401,000 more than for a year earlier. There were 8.52 million people working part-time, 223,000 more than for a year earlier. The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.4%, the highest since comparable records began in 1971. The unemployment rate was 4.9%, down from 5.6% for a year earlier. The last time it was lower was for July to September 2005. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.

Sterling is currently being traded few points above 1.31 level. Pair is likely to find support around 1.3050 handle and resistance above 1.32 level.

More in this category: « Eurozone Current Account recorded a surplus of €30.8 billion NAB Quaterly Business Confidence improved in the June quarter »

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