UK Employment At Record High
17 März 2020 - 10:31AM
RTTF2
The UK employment increased to a record high and the
unemployment rate also advanced even before the economy faced the
impact of coronavirus epidemic, data published by the Office for
National Statistics showed on Tuesday.
The employment rate rose 0.3 percentage points from the previous
quarter to a joint record high of 76.5 percent in three months to
January.
The number of people in work grew to a record 32.99 million as
job creation rose by 184,000 from a quarter ago.
However, the jobless rate gained 0.2 percentage points from the
preceding quarter to 3.9 percent. The rate was largely unchanged
from a year earlier, the ONS said. This was above the forecast of
3.8 percent.
During November to January, nearly 1.34 million people were
unemployed. This was 5,000 more than a year earlier but 515,000
fewer than five years earlier.
Average weekly earnings including bonus and excluding bonus grew
3.1 percent each on a yearly basis. Economists had forecast total
pay to grow 3 percent and regular pay to climb 3.2 percent.
In February, the claimant count rose marginally to a seasonally
adjusted 3.5 percent from 3.4 percent in January. The number of
people claiming unemployment benefits increased 17,300 from the
previous month.
The number of vacancies grew 19,000 from the previous quarter to
817,000 in three months to February.
In addition to the package announced in the budget, Finance
minister Rishi Sunak is expected to unveil more measures later
today to tackle the downward effects caused by the covid-19
outbreak.
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