Economy
UK Unemployment Rate Falls to 4.7% Ahead of Budget, but Job Vacancies Drop
While the British unemployment rate declined more than expected for the June-to-August quarter, job vacancies fell below 700,000 for the first time since 2021 amid rising labour costs for smaller firms.
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The essentials of this story
- What happened
- The UK unemployment rate unexpectedly fell to 4.7% while job vacancies dropped to 691,000.
- Who is affected
- Job seekers, employers, and UK financial markets.
- What changes
- Employment rose by 102,000 in the last quarter, and the pound rallied following expectations of potential interest rate hikes.
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Sources
- UK unemployment rate falls in pre-budget boost, but vacancies dry up amid ‘jobs drought’ – business live — The Guardian — negócios
