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European Economic News

U.K. Jobless Rate Falls, Employment Rate At Record High

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

The U.K. unemployment rate fell further and the employment rate hit a record high, the Office for National Statistics said Wednesday.

In three months to November, the ILO unemployment rate was 5.1 percent versus 5.8 percent in the same period of last year. It has not been lower since August to October 2005, the ONS said. It was also below the expected rate of 5.2 percent.

The employment rate was 74 percent, the highest since records began in 1971.

Earnings including bonus climbed 2 percent annually and that excluding bonus climbed 1.9 percent in the quarter ended November.

The number of people claiming jobseeker's allowance decreased 4,300 in December from November, confounding expectations for an increase of 2,800.

At the same time, the claimant count rate held steady at 2.3 percent as expected in December.

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