UK Jobless Rate Rises Unexpectedly to 4.4%


The unemployment rate in the UK rose to 4.4 percent in the three months to December of 2017 from a 42-year low of 4.3 percent in the July to September period, while markets were expecting the rate to remain unchanged.

There were 1.47 million unemployed people, 46,000 more than for July to September 2017 but 123,000 fewer than for a year earlier. The unemployment rate was 4.4 percent, compared to 4.3 percent in the July to September period and below 4.8 percent a year earlier.

There were 32.15 million people in work, 88,000 more than for July to September 2017 and 321,000 more than for a year earlier. The employment rate was 75.2 percent, higher than for a year earlier (74.6 percent). There were 901,000 people (not seasonally adjusted) in employment on “zero-hours contracts” in their main job, little changed compared with a year earlier.

There were 8.77 million people aged from 16 to 64 who were economically inactive, 109,000 fewer than for July to September 2017 and 95,000 fewer than for a year earlier. The inactivity rate was 21.3 percent, lower than for a year earlier (21.6 percent).

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 both including and excluding bonuses compared with a year earlier. In real terms (that is, adjusted for price inflation), average weekly earnings fell by 0.3 percent both including and excluding bonuses compared with a year earlier.

UK Jobless Rate Rises Unexpectedly to 4.4%


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/21/2018 10:06:56 AM