Mubasher: The UK Labour Force Survey estimates indicated that the number of working people increased between the second quarter and the third quarter of this year.

The number of employed people across the UK rose 23,000 to a total of 32.41 million people during the three-month period ended September compared with the previous period ended June.

On an annual basis, the number increased by 350,000, the Office for National Statistics (ONS) said on Tuesday.

The number of employed people aged from 16 to 64 years was little changed to 75.5% in the period between July and September, from the previous period between April and June, while it rose from 75% in the same period of 2017.

The unemployed population, on the other hand, reached 1.38 million in the three-month period, climbing by 21,000 from the figure recorded in the previous three-month period, with a year-on-year decline of 79,000, the ONS reported.

The overall UK unemployment rate came in at 4.1% in the three-month period ended last September, slightly higher than the prior three-month period ended June, yet lower than 4.3% in the comparable period last year.

The rate of inactivity remained unchanged at 21.2% in the three months, compared to the preceding three months, but lower than 21.6% in the same three months of the prior year.

The number of economically inactive people aged from 16 to 64 years was marginally changed at 8.74 million in the third quarter, and 147,000 lower than the same quarter of the previous year.

The average weekly earnings, excluding bonuses, grew 3.2% in nominal terms, not adjusted for price inflation, compared to the same period last year, marking the largest gain since the fourth quarter of 2008. The average weekly earnings, including bonuses, rose 3%.

In real terms, the average weekly earnings went up by 0.9% year-on-year, less bonuses and 0.8%, including bonuses.

By 11:08 am GMT, the GBP/USD pair rose 0.46% to $1.2908, as the EUR/GBP declined 0.25% to GBP 0.8709.