UK Jobless Rate Holds Steady at 42-Year Low


UK unemployment rate stood at a 42-year low of 4.3 percent in the three months to November 2017, unchanged from the June to August period and in line with market expectations.

There were 1.44 million unemployed people, little changed compared with June to August 2017 but 160,000 fewer than for a year earlier. The unemployment rate was 4.3 percent, down from 4.8 percent for a year earlier and the joint lowest since 1975.

The number of people in work rose by 102,000 to a record high of 32.21 million, marking the biggest increase in employment since the period to July. Compared to a year earlier, employment rose by 415,000. The employment rate was 75.3 percent, higher than for a year earlier (74.5 percent) and the joint highest since comparable records began in 1971.

There were 8.73 million people aged from 16 to 64 who were economically inactive, 79,000 fewer than for June to August 2017 and 167,000 fewer than for a year earlier. The inactivity rate was 21.2 percent, lower than for a year earlier (21.7 percent) and the joint lowest since comparable records began in 1971.

Latest estimates show that average weekly earnings for employees in the UK in nominal terms (that is, not adjusted for price inflation) increased by 2.5 percent including bonuses, and by 2.4 percent excluding bonuses, compared with a year earlier. In real terms (that is, adjusted for price inflation), average weekly earnings fell by 0.2 percent including bonuses, and by 0.5 percent excluding bonuses, compared with a year earlier.

UK Jobless Rate Holds Steady at 42-Year Low


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/24/2018 9:43:55 AM