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Financial News: UK Unemployment Rate Falls In Q4

UK Unemployment Rate Falls In Q4

02/13/2024 - 03:07:00 (RTTNews)

(RTTNews) - The UK jobless rate declined in the fourth quarter, figures from the Office for National Statistics showed on Tuesday.

The ILO unemployment rate fell to 3.8 percent in the fourth quarter from 3.9 percent in the prior period. The rate was also below economists' forecast of 4.0 percent. In three months to December, average earnings including bonus rose 5.8 percent annually, slower than the 6.7 percent rise in November. Earnings growth was expected to ease more sharply to 5.6 percent.

Excluding bonus, average earnings advanced 6.2 percent annually after rising 6.7 percent in the prior period. The expected increase was 6.0 percent.

The claimant count increased 14,100 on month to 1.579 million in January.

The estimated number of vacancies declined 26,000 sequentially to 932,000 in three months to January. At the same time, payroll employees for January grew 48,000 on the month to 30.4 million.

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