United Kingdom Unemployment Rate

The UK unemployment rate fell to 4.6 percent in the three months to July 2021, the lowest level since the June-August 2020 period and in line with market expectations, adding to signs of labor market recovery. Still, the rate remained 0.6 percentage points higher than before the pandemic. The number of unemployed people was down by 86,000 on quarter to 1.55 million, while employment levels rose by 183,000 to 32.36 million, more than market consensus of a 178,000 increase. The report also showed the number of employees on company books rose by 241,000 to 29.1 million in August 2021, returning to February 2020 levels. The number of job vacancies rose above 1 million for the first time, with the largest increase seen in accommodation and food service activities.