UK sheds 59,000 jobs as unemployment rate softens in August

0.2% decline in jobs

The number of UK payrolled employees is estimated to have decreased by 59,000 in August, marking a 0.2% decline on a monthly basis.

According to data from the Office of National Statistics today (10 September),  however, the overall number has increased from a year prior by 122,000 (0.4%) to 30.3 million. Annual growth in employees' wages (excluding bonuses) in UK was 5.1% between May and July, while annual growth including bonuses stood at 4%. Meanwhile, the employment rate for people aged 16 to 64 was 74.8% between May and July, while the unemployment rate stood at 4.1% in the same period, marking a slight decrease from the three-month average of 4.2% recorded between April and June. The ONS warned that chang...