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Financial News: UK Jobless Rate Rises In January

UK Jobless Rate Rises In January

03/12/2024 - 03:57:00 (RTTNews)

(RTTNews) - The UK unemployment rate increased in January and wage growth slowed, data published by the Office for National Statistics showed on Tuesday.

The ILO jobless rate rose to 3.9 percent in three months to January from 3.8 percent in the prior period. The rate was seen unchanged at 3.8 percent.

At the same time, the employment rate came in at 75.0 percent.

Average earnings excluding bonus gained 6.1 percent in three months to January. The rate was forecast to climb 6.2 percent, the same rate as seen in the preceding period.

Including bonus, earnings increased 5.6 percent, slightly slower than economists' forecast of 5.7 percent.

The estimated number of vacancies declined 43,000 sequentially to 908,000 in three months to February. Vacancies decreased for the 20th consecutive period.

Payrolled employment increased by 20,000 on month to 30.4 million in February.

Data showed that claimant count increased by 16,800 from the previous month to 1.585 million.

In January, there were 203,000 working days lost due to labor disputes.

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