Surprise fall in unemployment rate as wage growth slows down

Politics

Wages are still rising but at a slower pace as the unemployment rate surprisingly fell, according to official figures.

The percentage of people who are out of work and looking for a job dropped to 4.2% in July, said data from the Office for National Statistics (ONS).

Money blog: Heinz urged to bring back classic snack

A rise had been forecast by economists. Those polled by news agency Reuters expected a rise to 4.5%, up from the 4.4% recorded a month ago.

A low unemployment rate can indicate a healthy economy and increase pressure for wages to rise.

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the fullest version.

You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.

Articles You May Like

Russian forces capture ‘former British soldier’ fighting for Ukraine – reports
Climate-vulnerable islands storm out of COP29 negotiation room in row over funding
Tesla and Rivian are settling their battery tech theft lawsuit
Trump can seek dismissal of hush money case as sentencing postponed
ISRO And Australian Space Agency Sign Implementation Agreement for Gaganyaan Crew Recovery