21 Jan 2015
UK unemployment declines further than expected
FXStreet (London) - The UK unemployment rate was 5.8 percent in November, down on the 6 percent print in October and falling further than consensus estimates for a decline to 5.9 percent.
While the unemployment rate declined further than expected, wage growth ex bonuses was weaker than forecast, increasing 1.8 percent compared with the 1.9 forecast. Average earnings including bonuses was up 1.7 percent, in line with expectations.
According to the Office for National Statistics, There were 30.80 million people in work. This was 37,000 more than for June to August 2014, the smallest quarterly increase since March to May 2013. Comparing September to November 2014 with a year earlier, there were 512,000 more people in work.
The proportion of people aged from 16 to 64 in work (the employment rate), was 73.0 percent, unchanged from June to August 2014 but higher than for a year earlier (72.0 percent).
While the unemployment rate declined further than expected, wage growth ex bonuses was weaker than forecast, increasing 1.8 percent compared with the 1.9 forecast. Average earnings including bonuses was up 1.7 percent, in line with expectations.
According to the Office for National Statistics, There were 30.80 million people in work. This was 37,000 more than for June to August 2014, the smallest quarterly increase since March to May 2013. Comparing September to November 2014 with a year earlier, there were 512,000 more people in work.
The proportion of people aged from 16 to 64 in work (the employment rate), was 73.0 percent, unchanged from June to August 2014 but higher than for a year earlier (72.0 percent).