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The number of people in employment with second jobs also continued to fall in Q4 2023 to 3.5 per cent of all employed.
The unemployment rate decreased in Q4 2023 to 3.8 per cent, returning to the rate a year ago, i.e., Q4 2022, according to the Office of National Statistics (ONS).
The quarterly decrease was driven by those unemployed for up to 12 months. However, those unemployed for up to six months remained above the estimates from a year ago. Meanwhile, those unemployed for over six months have fallen in comparison with October-December 2022 figure.
The UK economic inactivity rate in that quarter was 21.9 per cent—above estimates in Q4 2022, but largely unchanged.
Total weekly hours worked fell slightly year on year (YoY) in that quarter, but increased quarter on quarter to 1.05 billion hours.
Fibre2Fashion News Desk (DS)