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September 12, 2023UK UNEMPLOYMENT RATE, MAY 2023 TO JULY 2023 
The UK Office for National Statistics reported today that the unemployment rate for the three-month period May to July 2023, increased to 4.3%. This was up from the 4.2% observed from Apr-Jun 2023 and up from 3.6% compared to the same period a year ago. The UK unemployment rate is rising because employment declined faster than a decline in the labour force (comparing May-Jul against Apr-Jun).
There were 1.464 million unemployed people in the UK, 240,000 more than from a year earlier. Employment in the UK was at 32.882 million, 136,000 more compared to a year earlier. Labour force declined to 34.346 million from May-Jul 2022.
Source: UK Labour Market Statistics; Statistics Canada. Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle, last 5 months
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