Did you know that unemployment is falling and wages are rising in the UK?
The UK unemployment rate stands at 3.5 per cent, the lowest in the last fifty years. All the details in the article by Daniele Meloni
The unemployment rate in the United Kingdom fell to an all-time low, settling at 3.5%, the lowest in the last 50 years in the three months from June to August 2022. These are the data released in the morning by the Office for National Statistics (ONS), the British Istat.
Regarding wages, the ONS records increases of 5.4% on an annual basis, the highest level since the beginning of the Covid crisis, but nevertheless not in line with the increase in the cost of living, with the latest data on inflation which indicate it at 9.9%, and projections by the major analytical institutes that forecast its increase in the last quarter of the year.
The percentage of inactive people is 21.7%, with the number of long-term patients reaching a record figure of nearly 2.5 million. The difficulties in recruiting companies are still current but the data on job vacancies, job vacancies, records a decrease of 46 thousand units compared to the data of the spring months and has dropped to 1 million 246 thousand units.
"The fundamentals of our economy are sound – said the highly criticized Chancellor Kwarteng – and the government's Growth Plan will produce sustainable growth with better wages for all." The return from the pause of parliamentary work for the party conferences is immediately challenging for the Conservative government: today at the Question Time in the House of Commons both the Prime Minister, Liz Truss, and Kwarteng himself, will be under the cross fire of the MPs for their economic policy. Truss, then, will meet with the Tory MPs of the 1922 Committee , and will have to exhibit all the political charm she is capable of to convince them that she is the right person to move forward and win the next election.
Meanwhile, yesterday, the Treasury Ministry announced that its projections on the much-discussed mini-budget at the end of September will arrive earlier than the previously known date – November 23 – and will be published on October 31.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/regno-unito-disoccupazione-minimi-storici/ on Tue, 11 Oct 2022 10:00:28 +0000.