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Macroeconomics  |  August 15, 2012 11:36:00

UK unemployment rate fell to an annual minimum

The number of Britons out of work in April-June fell by 46 thousand to 2.56 million quarter and the unemployment rate fell by 0.2% to 8.0%, Statistical Office announced. The result exceeded a tenth of a percent majority consensus. The unemployment rate was the lowest since Q2 2011 (7.9%). In comparison, the number of unemployed persons increased by 51 thousand.

The number of economically inactive people with quarter decreased by 117 thousand and declined by 214 thousand to 9.10 million, the lowest level since Q1 2009th

Employment in the group of 16 to 64 year olds rose by 201,000 to 29.48 million, the highest level since the quarter to July 2008. As a full-time and 130,000 part-time employment by 71 thousand. In comparison the number of employees jumped 251 000. In the first quarter of 2012, private sector employment increased by 222,000 to 23.43 million, while in the public sector fell by 39 thousand to 5.90 million and was the lowest since March 2003. The figure for the second quarter was not disclosed.

Weekly average hourly wage including bonuses rose by 1.6% to L 469, in the private sector by 1.8% to L 466 and the public sector by 1.6% to L 484. The average hourly wage without bonuses grew by 1.8% to 442 pounds.

The number of Britons claiming unemployment benefits in July decreased by 5.9 thousand to three-month low 1.593 million after increasing by 1.0 thousand in June. The rate of application remained unchanged eleventh month to 4.9% and 0.1% higher than the same period a year ago.

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