More than 2.5 million people are still out of work as UK unemployment fell by just 4,000 in the three months to June
According to figures released by ONS today, the number of people claiming Jobseeker’s Allowance in July fell down by 29,000 to 1.4 million.
However, youth unemployment, among those aged 16-24, increased by 15,000 to 973,000. Also, the number of people out of work for more than two years rose by 10,000 to 474,000, the highest number in 16 years.
The unemployment rate remained at 7.8% and ONS said that unemployment was “broadly unchanged” from the first three months of the year.
In better news, average weekly earnings growth accelerated to 2.1% in the period, compared with a year earlier.
Last week, Bank of England governor Mark Carney said interest rates were unlikely to rise until the unemployment rate drops to 7%.