ISTANBUL

The unemployment rate in the UK was 4% in August, down from 4.1% in July, the Office for National Statistics (ONS) revealed on Tuesday.

Market expectations were for the unemployment rate to remain at 4.1% for August, unchanged from July, but the official figure of 4% was below forecasts.

The employment rate was 75% in the UK in August.

While payrolled employees in the country decreased by 35,000 (a 0.1% drop) from July to August 2024, they rose by 165,000 (a 0.5% increase) on a yearly basis.

"The early estimate of payrolled employees for September 2024 decreased by 15,000 month-on-month but increased by 113,000 (0.4%) year-on-year, to 30.3 million," the report noted.