UK Suffers Sharpest Decline In Employment In Four Years

UK employment suffered its sharpest decline in more than four years in the three months to August, new figures reveal, The Irish Times reported. The number of people in work declined by 56,000 to 32.69 million in the quarter, as the number of people claiming unemployment benefits jumped higher, the Office for National Statistics (ONS) said. The slump was significantly below forecasts by economists, who had predicted a 26,000 rise in employment. The quarterly decline in employment was the heaviest fall since May 2015, when the level of employment slid by 65,000. Unemployment also increased in August, rising from a 45-year low reported in July. The level of UK unemployment increased by 22,000 to 1.31 million for the quarter, as the proportion of people out of work also increased. Read more