Unemployment in United Kingdom
United Kingdom - Unemployment
Unemployment rate declines in September-November period, employment rate at record high
In the September-November period the unemployment rate fell to 4.0%, the joint-lowest rate in over 11 years. Employment rose by 141,000 compared to June-August, on the back of a surge in full-time positions, and the employment rate was the highest since comparable records began in 1971. The figures show that intensifying Brexit uncertainty has yet to overly affect firms’ hiring intentions—although that could change in the early part of 2019, as the country moves closer to exiting the EU without a deal.
The tight labor market continued to feed through to wage pressures, with nominal earnings growth excluding bonuses remaining at a multi-year high of 3.3%, markedly outpacing the rate of inflation.
Looking ahead, wages should continue to be supported by the limited slack in the labor market and more generous public-sector pay agreements. Regarding employment, Brexit uncertainty could begin to dampen momentum as firms delay hiring decisions until greater clarity emerges over the outcome of the process.
Our panelists currently see the unemployment rate averaging 4.2% in 2019 and 4.3% in 2020, while real disposable income is seen increasing 1.4% in both 2019 and 2020.
United Kingdom - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
United Kingdom Unemployment Chart
Source: Office for National Statistics (ONS).
United Kingdom Facts
|Bond Yield||1.33||-3.04 %||Jan 21|
|Exchange Rate||1.29||-0.35 %||Jan 21|
|Stock Market||6,971||-0.26 %||Jan 21|
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January 24, 2019
On 15 January, Theresa May’s Brexit withdrawal agreement was resoundingly rejected by parliament, with her government subsequently surviving a no-confidence motion presented by the opposition Labour Party.
United Kingdom: Unemployment rate declines in September-November period, employment rate at record high
January 22, 2019
In the September-November period the unemployment rate fell to 4.0%, the joint-lowest rate in over 11 years.
January 16, 2019
Consumer prices rose 0.2% in December over the previous month, matching November’s figure.
January 11, 2019
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity rose 0.2% in November over the prior month in seasonally-adjusted terms, up from October’s 0.1% increase.
January 11, 2019
Industrial production decreased 0.4% in November over the prior month according to the Office for National Statistics, down from October’s revised 0.5% fall (previously reported: -0.6% month-on-month).