FOREX TradingCharts.com

Financial News: UK Unemployment Rises; Employment Falls Most Since 2015

UK Unemployment Rises; Employment Falls Most Since 2015

10/15/2019 - 06:25:00 (RTTNews)

(RTTNews) - The UK labor market weakened as the number of people out of work increased and employment declined the most in over four years in three months to August, data from the Office for National Statistics showed Tuesday.

The level of unemployment increased by 22,000 to 1.31 million in three months to August and the number of people in work fell 56,000 to 32.69 million.

The jobless rate rose to 3.9 percent, while it was expected to remain unchanged at a 44-year low of 3.8 percent. The employment rate came in at 75.9 percent, down from 76.1 percent in the previous quarter.

Data showed that average earnings which includes bonuses, grew 3.8 percent in the year to August, weaker than the expected 4 percent increase. Earnings excluding bonuses, also advanced 3.8 percent annually.

In July to September, the number of vacancies decreased 11,000 from previous quarter to 813,000, the lowest since 2017.

In September, the claimant count rate held steady at seasonally adjusted 3.3 percent. The number of people claiming unemployment benefits increased by 21,100 from the previous month.

The softening in the labor market is probably partly due to weak economic growth reducing demand for labor, Thomas Pugh, an economist at Capital Economics, said. But the natural ebb and flow of the data is probably also playing a part, the economist noted.

As the unemployment rate is still low and wage growth remains much higher than in recent years, the labor market will still provide solid support to the consumer sector over the next few years, Pugh added.

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


China Cuts Short Term Lending Rate For First Time Since 2015 (01 hr(s), 15 min(s), 34 sec(s) ago)
(RTTNews) - China's central bank unexpectedly cut its short-term lending rate on Monday, which ...Full Story»

Czech Producer Price Inflation Slows In October (02 hr(s), 17 min(s), 34 sec(s) ago)
(RTTNews) - Czech producer price inflation eased in October, figures from the Czech Statistical Of ...Full Story»

Singapore Exports Fall Further In October (05 hr(s), 18 min(s), 34 sec(s) ago)
(RTTNews) - Singapore's non-oil domestic exports continued to decline in October, data from En ...Full Story»

Japan Housing Loan Data Due On Monday (10 min(s), 26 sec(s) ago)
(RTTNews) - Japan is on Monday scheduled to release Q3 numbers for housing loans, highlighting a m ...Full Story»

New Zealand Performance Of Services Index Rises To 55.4 - BusinessNZ (02 min(s), 26 sec(s) ago)
(RTTNews) - The services sector in New Zealand continued to expand in October, and at a faster rat ...Full Story»

U.S. Business Inventories Unexpectedly Unchanged In September (03 min(s), 26 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed business inventories in ...Full Story»

U.S. Industrial Production Slumps Due To Strike At GM (50 min(s), 26 sec(s) ago)
(RTTNews) - Industrial production in the U.S. fell by much more than expected in the month of Octo ...Full Story»

Growth In New York Manufacturing Activity Unexpectedly Slows In November (26 min(s), 26 sec(s) ago)
(RTTNews) - A report released by the Federal Reserve Bank of New York on Friday unexpectedly showe ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

China Cuts Short Term Lending Rate For First Time Since 2015

11/18/2019 - 05:06 AM (RTTNews)
(RTTNews) - China's central bank unexpectedly cut its short-term lending rate on Monday, which ...Full Story>>

Czech Producer Price Inflation Slows In October

11/18/2019 - 04:04 AM (RTTNews)
(RTTNews) - Czech producer price inflation eased in October, figures from the Czech Statistical Of ...Full Story>>

Singapore Exports Fall Further In October

11/18/2019 - 01:03 AM (RTTNews)
(RTTNews) - Singapore's non-oil domestic exports continued to decline in October, data from En ...Full Story>>

Japan Housing Loan Data Due On Monday

11/17/2019 - 17:32 PM (RTTNews)
(RTTNews) - Japan is on Monday scheduled to release Q3 numbers for housing loans, highlighting a m ...Full Story>>

New Zealand Performance Of Services Index Rises To 55.4 - BusinessNZ

11/17/2019 - 17:24 PM (RTTNews)
(RTTNews) - The services sector in New Zealand continued to expand in October, and at a faster rat ...Full Story>>
Copyright © 2019. 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.