Unemployment rate remains low as number of job vacancies falls

The UK unemployment rate remains low, according to the latest official figures.

The figure stood at 4.2% in the three months to August this year, after changes to the Office for National Statistics (ONS) survey method.

Under the new means of assessing the labour market, there has been no change in the level of joblessness compared to the three months before.

Despite the unemployment rate remaining static, the number of jobs on offer fell to under a million. A drop of 43,000 jobs was estimated by the ONS from its previous tally – with 988,000 vacancies available from July to September.

The number of vacancies fell across the economy – 14 of the 18 industries surveyed posted a reduced number of jobs. It was the 15th consecutive period of contraction in the labour market.

The country’s all-time lowest unemployment rate was 3.4%, recorded in December 1973 – while the highest rate was 11.9% in April 1984.

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