UK unemployment rate at 48-year low, with rise in long-term sickness. Read full story here

As per the Office for National Statistics, the unemployment rate in the United Kingdom is at its lowest in almost 50 years. According to the ONS, the number of UK workers on payrolls increased by 69,000 between August and September to 29.7 million.

According to Head of Labour Market and Household Statistics ONS David Freeman, the unemployment rate is declining and is currently at its lowest level since 1974.

However, the number of people who are not working nor seeking employment continues to climb, with those who claim this, is due to long-term illness hitting a new high.





He also stated while the number of job openings remains high following a lengthy period of strong development, it has slowed slightly, with several firms reporting that they have decreased recruiting due to a range of economic factors.

However, while unemployment is also decreasing, there are still more vacancies than people unemployed.


According to the ONS, the headline indicators for the UK labour market from June to August show unemployment at 3.5 percent.

Economists projected that the unemployment rate would remain stable at 3.6 percent, the level reached in the previous quarter.

According to the ONS, the employment rate was 75.5 percent from June to August, with 21.7 percent from age of 16 to 64 not working or seeking work.

FAQs

What exactly is ONS?
The UK Statistics Authority, a non-ministerial agency that reports directly to the Parliament, is led by the Office for National Statistics.

Why is the unemployment rate in the UK at its lowest since 1974?
ONS Head of Labour Market and Household Statistics David Freeman said: "The unemployment rate continues to fall and is now at its lowest for almost 50 years. However, the number of people neither working nor looking for work continues to rise, with those who say this is because they're long-term sick reaching a record level."