U.K. ILO Jobless Rate Falls

The U.K. unemployment rate declined in three months to August and the employment rate hit a record high, data from the Office for National Statistics showed Wednesday.

The ILO jobless rate fell to 5.4 percent in three months to August from 5.6 percent in March to May period. The rate was expected to be at 5.5 percent.

During June to August, the employment rate was 73.6 percent, the highest since comparable records began in 1971. At the same time, there were 1.77 million unemployed, down by 79,000 from three months to May.

The claimant count held steady at 2.3 percent in September as expected. It has been at 2.3 percent since March.

The number of people claiming jobseeker's allowance increased unexpectedly by 4,600 from August. Economists had forecast a decline of 2,200.

For three months to August, pay for employees increased by 3 percent including bonuses and by 2.8 percent excluding bonuses.

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