Mubasher: UK job creation lost pace, as the number of working people declined in the period between June and August, according to the Labour Force Survey.

The number of employed people across the UK fell by 56,000 to a total of 32.693 million people in the period between June and August, from the prior three-month period.

This reflected a rate of the employment of 75.9% during the period.

When compared, the number climbed by 282,000, the Office for National Statistics (ONS) stated on Tuesday.

At the same time, the level of unemployment increased by 22,000, to 1.31 million, sending the total jobless rate to 3.9% in the three-month period ended last August, compared with 4% a year ago.

However, this rate came 0.1% higher than it was the period between May and July.

During the reported period, the growth of both total and regular pay dropped 3.8% year-on-year, on a nominal basis, which is not adjusted for price inflation.

The pay rate extended an upward trend since the three months ended May 2017, hovering close more than a decade high of 4%.

In real terms, annual growth of total and regular pay was 1.9% and 2%.

By 8:51 am GMT, the GBP/USD pair climbed by 0.45% to $1.2665, while the EUR/GBP pair dropped by 0.47% to GBP 0.8706.