Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Thursday, 17 November 2016

UK unemployment falls to 4.8pc (11-year low)

UK unemployment fell by 37,000 to 1.6 million, according to the ONS, to be 146,000 lower than year previously.

The unemployment rate is now just 4.8 per cent, the lowest since September 2005, and well down from 5.3 per cent a year ago.

Average earnings excluding bonuses were up by a solid +2.4 per cent.

Employment was up by +461,000 over the year, and remained at a record high of 31.8 million. 

However, the pace of hiring slowed up quite considerably over the three month period to just +49.000. 

Meanwhile the employment rate of 74.5 per cent was the equal highest since records began in 1971.

Some positive signs, clearly.

However, employment growth did slow sharply over the three months to September, and there is inflation in the post, thanks to the Brexit vote!