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UK unemployment rate at 48-year low with rising long-term illness. Read full story here

The unemployment rate in the United Kingdom is at its lowest level in nearly 50 years, according to the Office for National Statistics. The number of UK wage earners increased by 69,000 between August and September to 29.7 million, according to the ONS.

The unemployment rate is declining and is currently at its lowest level since 1974, according to ONS head of labor market and household statistics David Freeman.

However, the number of people who are not working and not looking for work continues to rise, with those who claim to be linked to chronic illness reaching a new high.

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He also said that while the number of vacancies remains high after a long period of active development, it has slowed down a bit, with several firms reporting that they have reduced recruitment due to a number of economic factors.

However, although unemployment is also falling, there are still more vacancies than unemployed.

According to the ONS, the main UK labor market indicators from June to August show unemployment at 3.5 percent.

Economists had forecast that the unemployment rate would remain stable at 3.6 percent, hit in the previous quarter.

The employment rate was 75.5% from June to August, according to the ONS, with 21.7% of those aged 16 to 64 not working or looking for work.

Frequently asked Questions

What is ONS?
Statistics UK, a non-ministerial agency reporting directly to Parliament, is led by the Office for National Statistics.

Why is the UK unemployment rate the lowest since 1974?
ONS Head of Labor Market and Household Statistics David Freeman said: “Unemployment continues to fall and is now at its lowest level in nearly 50 years. However, the number of people who are not working and not looking for work continues to grow, and those who say it is because they are long-term sick, reaching a record level.

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