Mubasher: The UK Labour Force Survey estimates indicated that the number of working people rose between the first quarter and the second quarter of 2018, leading a decline in the unemployed population.

The number of employed people across the UK rose by 42,000 quarter-on-quarter to 32.39 million during the three-month period ended June. Year-on-year, the number increased by 313,000, the Office for National Statistics (ONS) reported on Tuesday.

The number of employed people aged from 16 to 64 years stabilised at 75.6% between April and June, compared to the previous three-month period, while it rose from 75.1% in the same period of 2017.

The unemployed population, on the other hand, reached 1.36 million in Q2-18, dropping by 65,000 from the figure recorded in the previous three-month period, with a year-on-year decrease of 124,000, the ONS stated.

The overall UK unemployment rate fell to 4% in the three-month period ended last June from 4.5% in the comparable period of 2017, marking the lowest rate since the period between December 1974 and February 1975.

However, the rate of inactivity was 21.2% in the three months, which is higher than 21% recorded during the previous three months, but slightly lower than 21.3% in the same three months of the prior year.

This meant that the number of economically inactive people aged from 16 to 64 years reached 8.73 million, 77,000 more than the preceding three months, yet 33,000 lower than the same period of the prior year.

The average weekly earnings, excluding bonuses, grew 2.7% in nominal terms, not adjusted for price inflation, compared to the same period last year.

The average weekly earnings, including bonuses, rose 2.4% in June, down from 2.5% seen in May.

In real terms, the average weekly earnings, excluding bonuses, for employees in the UK went up 0.4%, while ticked up by 0.1% year-on-year during the three-month period.

By 9:03 am GMT, the GBP/USD pair went up 0.03% to $1.2775, as the EUR/GBP declined 0.28% to GBP 0.8917.