ECONOMY

Wed 15 Mar 2023 9:27 pm - Jerusalem Time

A slight decrease in unemployment rates in Britain at the end of August

London, (AFP) - The unemployment rate witnessed a new decline in Britain , reaching 3.5 percent over the three months to the end of August, after it recorded 3.6 percent a month ago, and it remains at its lowest level in 50 years, according to National Bureau of Statistics.


But the decline in unemployment reflects the increase in the number of Britons who have left the labor market since the outbreak of the Covid-19 epidemic, a phenomenon that has not yet been put to an end in the United Kingdom, unlike the European Union or the United States, according to the Office for National Statistics.


The number of people who are not working due to chronic diseases has reached unprecedented levels, according to the office, while the numbers on waiting lists have increased in the public health system, knowing that the national health system has been underfunded for years.


Faced with inflation of around 10 percent in August, real wages, that is, which takes into account price increases, fell by 2.9 percent, excluding bonuses, during this period.


The number of job vacancies decreased slightly to 1.2 million, after reaching record levels for months in the country, reflecting significant recruitment difficulties.


"Countries all over the world are facing economic challenges, but the statistics out now remind us that the fundamentals of the British economy are still resilient," British Finance Minister Kwasi Quarting said in a statement.


"Although there are initial signs that the labor market" is improving after difficult conditions in recent months, "the labor shortage makes it exceptionally volatile," warned Ruth Gregory, an analyst at Capital Economics.

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A slight decrease in unemployment rates in Britain at the end of August

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