Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Extraordinarily low unemployment means labour shortages of very real concern

by September 13, 2022
September 13, 2022
Extraordinarily low unemployment means labour shortages of very real concern

The UK’s unemployment rate has decreased slightly over the past three months, hitting 3.6 per cent.

The rate for May to July 2022 has dipped 0.2 percentage points lower than the previous three-month period, according to the Office for National Statistics’ freshly published data.

Unemployment was also 0.4 percentage points below pre-coronavirus pandemic levels.

This was the lowest rate since May to July 1974, it was announced on Tuesday.

Statisticians estimated the country’s employment rate at around 75.4 per cent, 0.2 percentage points lower than the previous three-month period.

Commenting on this morning’s release of labour market statistics, Kitty Ussher, Chief Economist at the Institute of Directors, said: “Just when we thought unemployment couldn’t get any lower, it has fallen further to an extraordinary 3.6% in the 3 months to July, the lowest rate since 1974.

“This is good news for households trying to budget in the face of rising costs. Although the effect of inflation has caused real pay to fall – by 2.8% on the year, causing difficulties for many – the jolt to family budgets from high unemployment would be significantly worse.

“More disturbing is the continuing rise in economic inactivity. Some of this is due to having more students, but also to increasing numbers of over-50s being denied the ability to work due to long-term illness.

“For businesses, low unemployment means labour shortages remain a very real concern. Having said that, today’s data also suggests some firms are pausing recruitment plans in the face of a weakening economy: the number of vacancies, although still very high, has started to come down.”

Read more:
Extraordinarily low unemployment means labour shortages of very real concern

0
FacebookTwitterGoogle +Pinterest
previous post
Brits have 1,000 less mortgage deals to pick from as hundreds of offers are pulled in last month
next post
8 Things You Should Know About Crypto To Stay In The Loop

You may also like

Prime Minister says people ‘not idiots’ and know...

January 20, 2023

New research shows optimism on the high street...

November 15, 2023

Where has your target market gone? How SMEs...

March 6, 2024

Economists suggest wealth taxes could generate £10bn to...

July 29, 2024

Revolut Secures 10-Year Lease in Canary Wharf, Enhancing...

June 13, 2024

Article title: Aleksandr Katsuba on the Transformation of...

August 7, 2024

How to List Your Cryptocurrency on Exchange: Typical...

December 29, 2023

The Costs of Bitcoin Wallets: Are They Free?

July 17, 2023

Carney sets his sights on leadership as Canada...

January 17, 2025

Big Data Specifics

June 15, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Revealed: The extensive perks UN officials receive amid budget crisis

      June 29, 2025
    • Trump administration takes on new battle shutting down initial Iran strike assessments

      June 29, 2025
    • Trump administration takes on new battle shutting down initial Iran strike assessments

      June 29, 2025
    • Schumer forces reading of Trump’s entire ‘big, beautiful bill’ as Senate braces for all-nighter

      June 29, 2025
    • Schumer forces reading of Trump’s entire ‘big, beautiful bill’ as Senate braces for all-nighter

      June 29, 2025
    • Trump, lawmakers react after ‘big, beautiful bill’ clears Senate hurdle

      June 29, 2025

    Categories

    • Business (8,334)
    • Investing (2,081)
    • Politics (15,858)
    • Stocks (3,177)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved