Figures show UK unemployment is down ahead of autumn budget

Business & Finance
20 Oct 2026 • 4:11 PM MYT
The Independent
The Independent

The world’s most free-thinking newspaper

Figures show UK unemployment is down ahead of autumn budget

  • The UK unemployment rate fell to 4.7 per cent in the three months to August, reaching its lowest level in more than a year.
  • Job vacancies dropped by 21,000 to a five-year low of 691,000 in the three months to September, driven by rising costs and hiring uncertainty.
  • Average regular earnings growth rose to 3.7 per cent in the three months to August, achieving a 0.8 per cent increase above inflation.
  • Work and Pensions Secretary Pat McFadden highlighted the labour market's strength while committing to 200,000 youth jobs via hospitality and retail partnerships.
  • Business groups urged Chancellor John Healey to cut National Insurance for young workers and reduce taxes on firms in the upcoming Budget.

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