companies are still struggling to find workers the latest uk jobs data shows with demand for labor not cooling off despite surging inflation and rising interest rates the uk unemployment rate fell by 03 percentage points to 35 in the three months ending august the lowest rate since 1974 the number of unemployed people per vacancy fell to a record low of 09 as the economic inactivity rate the opposite of participation matched the highest level in five years at 217 between june to august the office for national statistics said the increase was driven by two age groups those 50 to 64 and those 16 to 24 on account of record longterm sick as well as increased students pawel adrjan director of emea economic research at the recruiting firm indeed said the uk can get more people in the workforce by fixing the health system increasing flexibility in jobs better pay and immigration work visa issuance he notes has spiked over the last two years but the annual rate of 330000 is not much compared to the size of the uk labor force with the job market so tight wages rose to 6 yearoveryear from 55