Unemployment in the UK falls to 1.6 million

Economy - Mohit Shah - Jan 18,2017

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unemployment in the uk falls to 16 million

The unemployment count in the United Kingdom fell by 52,000 in the three months to November; the lowest mark for more than a decade as per official figures.

According to the Office for National Statistics, the jobless rate was stable at an 11-year low of 4.8%.

Moreover, the employment rate was steadily maintained at a record 74.5%, with wage growth picking up speed.

It was also noted that, average weekly earnings excluding bonuses surged by 2.7% as compared to the previous year statistics. The rise in pay including bonuses shot by 0.2 percentage points to reach 2.8% in the year till November.

However, the count of people in work tumbled by 9,000 to reach just over 31.8 million, according to ONS.

The number of full-time workers was noted to be 209,000 higher at 23.25 million people, whereas, the total of part-time employees rose by 86,000 to 8.55 million.

Employment minister of UK, Damian Hinds, described the analytics as encouraging and appreciated UK labour market’s "strength and resilience".

Paul Hollingsworth at Capital Economics commented, the UK labour market remained tough despite Brexit uncertainty. He further added, employment dropped by 9,000 in the three months to November, however, this was a much lighter fall as compared to the unity expectation of a 35,000 drop.  

In Wales, the jobless rate for the three months to November stood at 4.4%, 5.6% in Northern Ireland and 5.1% in Scotland.

In England, the region of South East possessed the lowest rate of unemployment at 3.4%, whereas, the North East exhibited the highest at 6.8%. Moreover, London also has a higher rate as compared to the national average of 5.6%.

The unemployment figures are calculated on the very large Labour Force Survey. The ONS interacts with about 40,000 households, or 100,000 individuals, after a time span of every three months.