UK unemployment falls but wage growth slows

The UK unemployment rate ticked lower in the three months to September 2019 but UK wage growth slowed down, according to the latest figures from the Office for National Statistics (ONS).

Labour Market Statistics - July to September 2019

Labour market statistics - July to September 2019

According to the latest labour market statistics from the Office for National Statistics (ONS), wage growth in the UK slowed and the employment rate nudged down. The research found:

  • unemployment dropped by 23,000 to 1.31 million in the three months to September
  • the unemployment rate also nudged down from 3.9% in August to 3.8% in September - its lowest level since 1974
  • the estimated employment rate for people was 76.0%
  • average earnings (excluding bonuses) increased by 3.6%, compared with 3.9% growth in the previous quarterly period
  • average weekly pay, in real terms before tax, was £470
  • job vacancies fell by 18,000 to 800,000

The statistics also showed that there were 32.75 million people in work during the three-month period. This was a fall of 58,000 and the biggest drop since May 2015.

It was also the ninth consecutive monthly fall in available jobs, with figures showing the biggest annual drop in the number of job vacancies for nearly 10 years. The ONS said this was down to falling numbers of people working in retail following the collapse of several store chains.

On the findings, an ONS spokesperson said: "The employment rate is higher than a year ago, though broadly unchanged in recent months. Vacancies have seen their biggest annual fall since late 2009, but remain high by historical standards.

"The number of EU nationals in work was very little changed on the year, with almost all the growth in overseas workers coming from non-EU nationals."

See also

Company insolvency statistics - Q3 2019

Personal insolvencies in the UK rise to an eight-year high

Find out more

Labour market overview, UK: November 2019 (ONS)

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