UK unemployment rate jumps by more than expected as job market cools


London, April 16 (IANS): The UK's unemployment rate has risen by more than expected and earnings growth has eased back once again in the latest sign that economic uncertainty is affecting the country's jobs market.

The Office for National Statistics (ONS) said the jobless rate jumped to 4.2 per cent in the three months to February - the highest level for nearly six months and up from 3.9 per cent in the three months to January.

Most economists had been expecting the rate to only edge up slightly to 4 per cent in the quarter.

The official figures also showed regular wages growth, excluding bonuses, falling back once again, to 6 per cent in the three months to February.

But, thanks to falling inflation, when taking the Consumer Prices Index (CPI) into account, real regular wages rose by 2.1 per cent, which is the highest for almost two-and-a-half years.

Liz McKeown, ONS director of economic statistics, said: "Recent trends of falling vacancy numbers and slowing earnings growth have continued this month, albeit at a reduced pace.

"At the same time, we are now seeing tentative signs that the jobs market is beginning to cool, with both a fall in the headline employment rate from our survey and a drop in the total number of people on payrolls from HMRC data."

 

  

Top Stories


Leave a Comment

Title: UK unemployment rate jumps by more than expected as job market cools



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.