counter Unemployment RISES again as wage growth drops to lowest level in four years – what it means for YOUR wallet – Forsething

Unemployment RISES again as wage growth drops to lowest level in four years – what it means for YOUR wallet

UNEMPLOYMENT has risen again, according to the latest figures from the ONS.

The latest figures from the Office for National Statistics (ONS) show the jobless rate reached 4.8% in the three months to August.

UK One Pound coins on payslips.
Alamy

THE ONS released the figures today[/caption]

This is up from the previous months reading of 4.7%.

Liz McKeown, director of economic statistics, ONS, said: “After a long period of weak hiring activity, there are signs that the falls we have seen in both payroll numbers and vacancies are now levelling off.

“We see different patterns across the age ranges with record numbers of over 65s in work, while the increase in unemployment was driven mostly by younger people.”

Meanwhile average regular earnings growth fell to 4.7% in the three months to August and was 0.9% higher after taking Consumer Prices Index inflation into account.

About admin