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FX.co ★ UK Unemployment Rate Rises In Q4

UK Unemployment Rate Rises In Q4

The UK unemployment rate increased in the fourth quarter, data from the Office for National Statistics showed Tuesday.

The jobless rate came in at 5.1 percent in three months to December, which was 0.4 percentage points higher than the previous quarter. The rate matched economists' expectations.

At the same time, the estimated employment rate dropped 0.3 percentage points from the prior quarter to 75.0 percent.

Average earnings including bonuses rose 4.7 percent in three months to December, which was well above the expected rate of 4.1 percent. Excluding bonus, average earnings grew 4.1 percent versus the forecast of 4 percent.

In January, claimant count decreased 20,000 from the previous month.

Another report from the ONS showed that labor productivity, as measured by output per hour, fell by 1.1 percent from a year ago in the fourth quarter.

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