UK unemployment holds at 4.3% with rise in employment

The United Kingdom's unemployment rate stood at 4.3% from August to October 2024, unchanged from the previous period and in line with expectations.

UK unemployment holds at 4.3% with rise in employment

This marks the highest unemployment rate since the three months ending in May, primarily driven by an increase in the number of unemployed for up to 12 months. Compared to the same period in 2023, the rise in unemployment was mainly due to a growing number of people out of work for over six months. On a positive note, the number of employed individuals rose by 173,000 to 33.77 million, with growth seen in full-time and self-employed workers.

UK sees rise in second jobs; economic activity rate stable

Additionally, the proportion of people holding second jobs increased, accounting for 3.7% of the workforce. The economic activity rate remained unchanged at 21.7%, consistent with the previous period.