Employment rate falls

The employment rate is beginning to fall, the latest figures from the Office for National Statistics have suggested.

The employment rate for people of working age fell from 75.0% to 74.7% in the three months to May.

The number of employed people fell by 72,000 over the quarter. All of those affected were in the under-35 age bracket.

Meanwhile, the number of people claiming Jobseeker's Allowance increased for the fifth month in a row, rising by 8,800 to reach 864,900 in June.

The annual rate of growth in average earnings (excluding bonuses) fell from 4.1% to 4.0% in May.