UK Unemployment Rate Rises to 4.1%


The unemployment rate in the UK came in at 4.1 percent in the third quarter of 2018, slightly higher than market expectations of 4 percent. The number of unemployed rose by 21,000 from the April to June period while employment rose by 23,000 and the number of job vacancies hit a fresh record high. Average weekly earnings including bonuses rose 3 percent in the third quarter, the most since Q3 2015; excluding bonuses, wages grew 3.2 percent, the most since Q4 2008.

There were 1.38 million unemployed people, 21,000 more than for April to June 2018 but 43,000 fewer than for a year earlier. The unemployment rate was 4.1 percent, slightly higher than for April to June 2018 but lower than for a year earlier (4.3 percent). 

There were 32.41 million people in work, 23,000 more compared with April to June 2018 and 350,000 more than for a year earlier. The employment rate was 75.5 percent, little changed compared with April to June 2018 but higher than for a year earlier (75 percent).

There were 8.74 million people aged from 16 to 64 years who were economically inactive, little changed compared with April to June 2018 but 147,000 fewer than for a year earlier. The economic inactivity rate was 21.2 percent, unchanged compared with April to June 2018 but lower than for a year earlier (21.6 percent).

Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 3.2 percent excluding bonuses, and by 3 percent including bonuses, compared with a year earlier. Latest estimates show that average weekly earnings for employees in Great Britain in real terms (that is, adjusted for price inflation) increased by 0.9 percent excluding bonuses, and by 0.8 percent including bonuses, compared with a year earlier.

UK Unemployment Rate Rises to 4.1%


ONS | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/13/2018 9:42:49 AM