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UK unemployment rate holds steady | UK unemployment rate holds steady |
(35 minutes later) | |
The UK jobless rate held steady at a near 11-year low of 4.9% in the three months to August, figures show. | The UK jobless rate held steady at a near 11-year low of 4.9% in the three months to August, figures show. |
Unemployment saw a "small" rise of 10,000 to 1.66 million, the Office for National Statistics (ONS) said. | Unemployment saw a "small" rise of 10,000 to 1.66 million, the Office for National Statistics (ONS) said. |
"These figures show that employment continued to grow over the summer and vacancies remain at high levels, suggesting continuing confidence in the economy," the ONS said. | "These figures show that employment continued to grow over the summer and vacancies remain at high levels, suggesting continuing confidence in the economy," the ONS said. |
Average weekly earnings grew by 2.3%, a slight fall from the previous month. | Average weekly earnings grew by 2.3%, a slight fall from the previous month. |
The employment figures sent the pound up against the dollar and euro, rising back above $1.23 and €1.12. | The employment figures sent the pound up against the dollar and euro, rising back above $1.23 and €1.12. |
ONS statistician Nick Palmer said that although there was a "small rise" in unemployment, it was accompanied by more people actively seeking work. | ONS statistician Nick Palmer said that although there was a "small rise" in unemployment, it was accompanied by more people actively seeking work. |
'More to do' | 'More to do' |
The figures also showed the total number of people in jobs remained at a record high of 31.8 million. | |
In the three months to August, 73.4% of women were either in work or seeking jobs, the highest rate since records began in 1971, the ONS said. | |
Employment Minister Damian Hinds welcomed the data, but said: "There's more to do, particularly when it comes to supporting young people into employment." | Employment Minister Damian Hinds welcomed the data, but said: "There's more to do, particularly when it comes to supporting young people into employment." |
Scott Bowman, UK economist at Capital Economics, said: "August's UK labour market data showed that the EU referendum still hasn't provided much of a hit to the jobs recovery." | Scott Bowman, UK economist at Capital Economics, said: "August's UK labour market data showed that the EU referendum still hasn't provided much of a hit to the jobs recovery." |
However, others said an easing in the pace of job creation suggested the employment market was slowing down. | However, others said an easing in the pace of job creation suggested the employment market was slowing down. |
Howard Archer, chief UK economist at IHS Markit, said "cracks are appearing", as jobs growth dipped to 106,000, compared with the 174,000 jobs added in the three months to July. | Howard Archer, chief UK economist at IHS Markit, said "cracks are appearing", as jobs growth dipped to 106,000, compared with the 174,000 jobs added in the three months to July. |
The unemployment estimates come from the Labour Force Survey in which the ONS talks to 40,000 households. | The unemployment estimates come from the Labour Force Survey in which the ONS talks to 40,000 households. |
Although it is a very large survey, there is still a margin of error. The ONS says it is 95% confident that the figure of a 10,000 rise in unemployment is correct to within 79,000. | Although it is a very large survey, there is still a margin of error. The ONS says it is 95% confident that the figure of a 10,000 rise in unemployment is correct to within 79,000. |
As the estimated change is smaller than the margin of error, it means the change in unemployment is not statistically significant. | As the estimated change is smaller than the margin of error, it means the change in unemployment is not statistically significant. |