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UK unemployment rises, wage growth misses estimates in 3 months to August

The U.K.'s annual unemployment rate increased to 3.9% in the quarter to August, and wage growth missed estimates, data from the Office for National Statistics showed.

The consensus estimate of economists polled by Econoday was for unemployment to stay steady at 3.8% in the three months to August.

The employment rate in the U.K. reached 75.9% in the three months to August, down 0.2 percentage points from the previous quarter. The number of people employed rose 282,000 year over year to 32.69 million over the three-month period.

The economic inactivity rate dropped to 21.0% in the three months to August, down from 21.2% in the year-ago period but 0.1 percentage point higher than the previous quarter.

Average weekly earnings, including bonuses, grew 3.8% year over year in nominal terms in the three months to August, compared with a 3.9% gain in the three months to July.

The Econoday consensus forecast for average wage growth in the three months to August was 3.9%.