london skyline

United Kingdom Unemployment October 2019

United Kingdom: Employment rebounds in August-October; wage growth stays robust

The unemployment rate was stable at 3.8% in the August-October period, a multi-decade low. Moreover, employment was up 24,000—confounding market expectations of a contraction—on higher full-time jobs, while regular pay growth (excluding bonuses) notably outstripped inflation. These signs suggest a firming of the labor market following several months of soft readings. That said, job vacancies continued to decline, suggesting firms were somewhat cautious about hiring. Looking further ahead, the evolution of trade negotiations with the EU will have a key bearing on the labor market.

Commenting on the figures, James Smith, an economist at ING, noted: “the official jobs data doesn’t look quite as bad as other hiring indicators have signalled. But 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 […] it’s probably too early to make firm conclusions about where the jobs’ market is headed.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest