Economic Buzz: UK unemployment rate stable at 4.7%

The UK unemployment rate remained unchanged in three months to June, the Office for National Statistics said Tuesday.

The ILO jobless rate held steady at 4.7 percent in the second quarter, in line with expectations.

Payroll employees for July decreased 164,000 from the previous year, and by 8,000 from June, to 30.3 million.

In three months to July, the estimated number of vacancies fell by 44,000 from the previous quarter, to 718,000. This was the 37th consecutive period where vacancy numbers have dropped compared with the previous three months, the ONS said.

Annual growth in employees' average earnings excluding bonuses was 5.0 percent in the three months to June period, which was faster than the expected increase of 4.7 percent. Including bonus, total earnings climbed 4.6 percent, data showed.

In June, about 38,000 working days were lost because of labour disputes across the UK.

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