UK employment hit another record high in June -- but the Brexit wage squeeze continues

LONDON — Employment in the UK hit a fresh record high last month, new data released by the Office for National Statistics on Wednesday showed.

Britain’s headline employment rate grew to 74.9% in the month, a record high since comparable data was first compiled in 1971.

“There were 32.01 million people in work, 175,000 more than for December 2016 to February 2017 and 324,000 more than for a year earlier,” the ONS said.

On the flipside, unemployment fell in the month, hitting a new low of 4.5%, down from 4.6% at the last reading.

More follows …

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at