Economic Buzz: UK ILO Jobless Rate Increases In Q4

  • Economic Buzz: UK ILO Jobless Rate Increases In Q4

Economic Buzz: UK ILO Jobless Rate Increases In Q4

The rate was forecast to remain unchanged at 4.3%.

But in the West Midlands unemployment was actually down by 2,000 to 153,000.

Unemployment has risen in the East of England.

Output per hour - the main measure of productivity - rose 0.8 percent in the three months to December from the previous three months, slightly slower than the third quarter's 0.9 percent rise.

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.

Average weekly earnings excluding bonuses increased by 2.5 per cent compared to a year earlier, the ONS said. But they are still lagging behind the rate of inflation, which was three per cent in January, tightening the squeeze on family incomes. The jump is thought to be due to the increasing rollout of Universal Credit, taking over from other benefits.

The biggest claimant count decrease was in Blaenau Gwent (0.7 per cent, or 310 people).

In Wolverhampton it rose 155 to 6,755 last month, while in Walsall it rose by 90 to 4,895.

The ONS attributed a rise in unemployment to fewer economically inactive people - those neither working nor looking for a job. The overall employment rate rose to 75.2 percent, close to a record.

"Earnings continue to grow more slowly than prices".

The rise in the jobless rate and the increase in average earnings may undermine the case for the BOE to raise its benchmark interest rate in the months ahead. The number of Eastern European workers fell.

Unemployment in the United Kingdom increased by 46,000 between October and December to 1.47 million but was 123,000 fewer than a year earlier.

The rate of unemployment rose in the three months to December, although wages rose by more than expected, government statisticians said today.