The Unemployment Rate in the UK Remains Steady
The UK unemployment rate remained unchanged in the three months to November, according to data from the Office for National Statistics. The jobless rate was at 4.2 percent, matching the rate from the three months to October. Average earnings, including bonuses, increased by 6.5 percent in the three months to November, falling short of economists’ forecast of 6.8 percent. When bonuses were excluded, earnings growth matched expectations at 6.6 percent. The number of job vacancies declined by 49,000 to 934,000 in October to December, marking a decrease for the 18th consecutive period. Additionally, there were 69,000 working days lost in November due to labor disputes across the UK, the lowest number since May 2022, according to the ONS.