UK jobless rate hits 48-year low as people quit labour market

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UK jobless rate hits lowest since 1974 as people quit labour market

The Office for National Statistics said the number of people in employment grew by 40,000 in the May-July period, less than a third of the increase expected by the economists polled by Reuters.The economic inactivity rate - measuring the share of the population who are not in work and not looking for work - increased by 0.4 percentage points on the quarter to 21.7%, its highest since the three months to January 2017.

The BoE is worried about increasing inactivity in the labour market as it could help to fuel inflation pressures due to a lack of candidates to fill jobs. There were other signs of price pressures in the labour market in the ONS figures published on Tuesday.

 

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Is compensation and benefits as dog shit there as they are in the US?

Check the long Covid stats

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