Wednesday, 20 September 2017

Scottish unemployment rate falls to lowest level in 42 years

Scotland

EDINBURGH: Scotland’s jobless total fell by 7,000 in the three months to July, to stand at 102,000.

The unemployment rate fell by 0.3% from the previous quarter to reach 3.8% – below the UK figure of 4.3%.

The number of people in work rose by 60,000 to 2,587,000, according to the Office for National Statistics.

Meanwhile, wages in the period were 2.1% higher than a year earlier, little changed from previous months’ growth rates.

With inflation hitting 2.9% in August, wages are failing to keep up. In real terms, wages dropped by 0.4%.

Scotland’s Employability Minister Jamie Hepburn described the latest labour market statistics as “encouraging”.

He said: “There are now 109,000 more people in employment compared to the pre-recession peak and Scotland now has the highest employment rate in the UK.

“Our unemployment rate remains a success story, showing that the labour market remains resilient and robust.

“With the most recent GDP figures showing the Scottish economy grew nearly four times that of the UK in the first quarter of this year, today’s labour market figures are further proof that the fundamentals of Scotland’s economy remain strong, despite the challenges posed by Brexit.”

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