UK jobless rate at 10-year low but wage growth slows
The UK unemployment rate has fallen to its lowest rate in more than a decade but wage growth has slowed. The rate hit 5.1% in the three months to November – its lowest rate since the three months to October 2005, according to the Office for National Statistics.
The key statistics of the January’s UK Labour Market Bulletin, which covers the period September to November 2015, are as follows …
There were 31.39 million people in work, 267,000 more than for June to August 2015 and 588,000 more than for a year earlier.
There were 22.96 million people working full-time, 436,000 more than for a year earlier. There were 8.43 million people working part-time, 152,000 more than for a year earlier.
The employment rate (the proportion of people aged from 16 to 64 who were in work) was 74.0%, the highest since comparable records began in 1971.
There were 1.68 million unemployed people (people not in work but seeking and available to work), 99,000 fewer than for June to August 2015 and 239,000 fewer than for a year earlier.
There were 919,000 unemployed men, 149,000 fewer than for a year earlier. There were 756,000 unemployed women, 89,000 fewer than for a year earlier.
The unemployment rate was 5.1%, lower than for a year earlier (5.8%). It has not been lower since August to October 2005. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.
There were 8.92 million people aged from 16 to 64 who were economically inactive (not working and not seeking or available to work), 93,000 fewer than for June to August 2015 and 172,000 fewer than for a year earlier.
The inactivity rate (the proportion of people aged from 16 to 64 who were economically inactive) was 21.9%, lower than for a year earlier (22.4%). The inactivity rate has not been lower since October to December 1990.
Average weekly earnings for employees in Great Britain increased by 2.0% including bonuses and by 1.9% excluding bonuses compared with a year earlier.
The inactivity rate for women reached a record low of 27%.
You can download a copy of the report here