london skyline

United Kingdom Unemployment November 2017

United Kingdom: Labor market shows resilience in September-November period

Jobless claims rose by 8,600 in December according to the Office for National Statistics (ONS), compared to a revised 12,000 uptick in November (previously reported: +6,000) and overshooting analysts’ expectations.

The unemployment rate—derived from a different survey—remained at a multi-decade low of 4.3% in the September-November period (the latest period for which data is available), matching market expectations. The economic inactivity rate, at 21.2%, was down from the same period in the prior year and was the joint-lowest since 1971. Encouragingly, employment rose markedly in September-November compared to June-August, defying expectations of a net fall in employment and belying fears of a loss of momentum in the labor market, following weak figures in the previous month. The increase was driven by more full-time jobs.

However, despite stellar job creation and low unemployment, total pay fell by 0.2% in September-November, matching the prior month’s figure. Elevated inflation continues to eat into consumers’ purchasing power. Poor productivity growth, business uncertainty and the changing composition of the workforce could also be playing a role in dampening wages.

UK Unemployment Forecast

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