FOREX TradingCharts.com

Financial News: UK Job Vacancies Decline; Wage Growth Eases

UK Job Vacancies Decline; Wage Growth Eases

12/17/2019 - 07:36:00 (RTTNews)

(RTTNews) - The UK job vacancies declined sharply and average wage growth eased slightly, but the unemployment rate remained unchanged at a 44-year low and the employment rate reached a record high, data from the Office for National Statistics showed Tuesday.

Data showed that vacancies decreased by 20,000 from the previous quarter to 794,000 during the September to November period. From last year, vacancies plunged 59,000, which was the biggest fall since late 2009.

The ILO unemployment rate was largely unchanged at 3.8 percent in the three months to October, while the rate was expected to rise marginally to 3.9 percent. The rate was the joint lowest since late 1974.

The number of people out of work decreased by 93,000 to 1.28 million in the year to October.

At the same time, the number of employed persons increased by 24,000 to 32.8 million in the three months to October, with the employment rate reaching a record high of 76.2 percent.

Earnings excluding bonus grew at a slower pace of 3.5 percent from the previous year, after rising 3.6 percent. Including bonus, payments gained 3.2 percent.

In November, the claimant count rate rose marginally to a seasonally adjusted 3.5 percent from 3.4 percent in October. The number of people claiming unemployment benefits increased by 28,800 from the previous month.

James Smith, an ING economist said, with Brexit uncertainty already making a comeback and investment set to remain low in 2020, hiring appetite is unlikely to improve significantly any time soon.

Solid labor market may keep the Bank of England away from the rate cut trigger at Thursday's meeting, Andrew Wishart, an economist at Capital Economics, said.

With Prime Minister Johnson determined not to extend the transition period, Brexit uncertainty would not disappear either. The upshot is that there is larger chance of a rate cut early next year than most other forecasters think, Wishart added.

According to the Report on Jobs, published by IHS Markit, the UK labor market conditions remained challenging in November amid election and Brexit uncertainty. The overall vacancies rose at the slowest pace since the current upturn began in October 2009.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Bank Of England Set To Hold Rates On Improving Economic Activity (17 min(s), 27 sec(s) ago)
(RTTNews) - The Bank of England is likely to keep its monetary policy rates unchanged this week af ...Full Story»

Singapore Economy To Be Impacted By Wuhan Coronavirus Outbreak, Minister Says (01 hr(s), 06 min(s), 27 sec(s) ago)
(RTTNews) - The coronavirus outbreak in the Chinese city of Wuhan is set to impact the Singapore e ...Full Story»

German Business Confidence Weakens Unexpectedly (02 hr(s), 29 min(s), 27 sec(s) ago)
(RTTNews) - German business sentiment deteriorated unexpectedly at the start of the year, reflecti ...Full Story»

Poland Jobless Rate Rises Further (04 hr(s), 03 min(s), 27 sec(s) ago)
(RTTNews) - Poland's jobless rate rose for the second straight month in December, data from St ...Full Story»

German Jan Ifo Business Confidence Weakens In January (05 hr(s), 21 min(s), 27 sec(s) ago)
(RTTNews) - German business confidence weakened in January, reports said citing survey data from t ...Full Story»

Denmark Retail Sales Fall In December (06 hr(s), 31 min(s), 27 sec(s) ago)
(RTTNews) - Denmark's retail sales fell in December after rising in the preceding month, figur ...Full Story»

Turkey Manufacturing Capacity Utilization Falls In January (06 hr(s), 37 min(s), 27 sec(s) ago)
(RTTNews) - Turkey's manufacturing capacity utilization decreased in January, figures from the ...Full Story»

Finland Manufacturing Confidence Weakens In January (08 hr(s), 07 min(s), 27 sec(s) ago)
(RTTNews) - Finland's manufacturing sentiment deteriorated in January, survey data from the Co ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Bank Of England Set To Hold Rates On Improving Economic Activity

01/27/2020 - 09:29 AM (RTTNews)
(RTTNews) - The Bank of England is likely to keep its monetary policy rates unchanged this week af ...Full Story>>

Singapore Economy To Be Impacted By Wuhan Coronavirus Outbreak, Minister Says

01/27/2020 - 08:40 AM (RTTNews)
(RTTNews) - The coronavirus outbreak in the Chinese city of Wuhan is set to impact the Singapore e ...Full Story>>

German Business Confidence Weakens Unexpectedly

01/27/2020 - 07:17 AM (RTTNews)
(RTTNews) - German business sentiment deteriorated unexpectedly at the start of the year, reflecti ...Full Story>>

Poland Jobless Rate Rises Further

01/27/2020 - 05:43 AM (RTTNews)
(RTTNews) - Poland's jobless rate rose for the second straight month in December, data from St ...Full Story>>

German Jan Ifo Business Confidence Weakens In January

01/27/2020 - 04:25 AM (RTTNews)
(RTTNews) - German business confidence weakened in January, reports said citing survey data from t ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.