Home Business & Finance Despite Low Unemployment Rate, Productivity Rate in the UK Falls

Despite Low Unemployment Rate, Productivity Rate in the UK Falls

Despite Low Unemployment Rate, Productivity Rate in the UK Falls

Despite Low Unemployment Rate, Productivity Rate in the UK Falls

Source : Flickr/Pablo Cabezos

Although employment rate in the UK has reached record high, the country’s productivity rate dropped during the period.

The latest news comes according to a new estimate from the office of National Statistics. The report has stated that the output per hour fell by 0.5% between January and March 2017, compared with a 0.4% rise from October to December 2016. The report claimed that the drop came from the increased total working hours by the employed population.

a spokesperson from the Department of Work and Pensions said, “Today’s figures show that across the UK there are a record 31.95 million people now in work – 381,000 more than this time last year.”

“Unemployment has fallen by 53,000 on the quarter and the unemployment rate is at its lowest level in more than 40 years at 4.6%.”

“Approximately 3.03 million people are employed in the East of England.”

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