This content was published on Aug 15, 2023 – 06:33
London, Aug. 15 (EFE). – The UK unemployment rate rose to 4.2% in the three months between April and the end of June, up 0.3 percentage points from the previous quarter, the Office for National Statistics reported Tuesday. ONS).
The official body indicated that the increase between April and June 2023 is driven by people who have been unemployed for at least six months.
The employment rate declined to 75.7%, compared to 76% previously, while the economic inactivity rate reached 20.9%, compared to 20.8% previously, according to data released today.
Vacancies decreased by 66,000 to 1.02 million, while the average rate of salary increases was 7.8%, the highest rate since 2001.
The higher salary comes as a result of the higher year-on-year inflation rate, which is 7.9%.
The Bank of England recently raised interest rates from 5 to 5.25%, the highest level in 15 years, to control inflation. This was the fourteenth consecutive rise in the price of money, which was decided at the end of the monetary policy committee meeting of the English entity, which aims to try to keep inflation at 2%.
The bank expects inflation to fall this year and could reach a target of just 2% at the start of 2025. EFE
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