⚠️ 'Twelve years of the Tories has left Britain with falling wages and high unemployment' - Rachel Reeves It’s hard to say what level of unemployment can objectively be called “high”, but the current rate is very low by historic standards.
But it is misleading to say that Britain currently has “high unemployment”. It’s difficult to know what level should be considered “high”, as it’s a subjective description with no set definition we can find. But the latest, for the three months centred on September 2022, is 3.7%, which is slightly higher than the previous three measurements, but very low by historic standards.
The unemployment rate has been 3.8% or lower throughout 2022. Before this year, the last time it was below 3.8% was in November 1974. The latest level is less than half the 7.9% rate in May 2010, when the Conservatives took office in coalition with the Liberal Democrats.is the number of unemployed people aged 16 or over as a percentage of the total number of people who are employed or unemployed.if they are either out of work, but looking for and available to start work, or out of work but with a job they are starting in the next two weeks.
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