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Unemployment rate falls to 4.3% as wages stagnate

Unemployment in the UK fell by 75,000 in the three months to July, official figures show, bringing the jobless rate down to 4.3%.

This is a fresh 42-year low, but a squeeze on real incomes continues.

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, its joint highest in more than five years, wages are failing to keep up. In real terms, wages dropped by 0.4%.

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Economy