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2/23, 8:00 AM (Source: TeleTrader)
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UK unemployment rate at 5.1% in December

The rate of unemployment in the United Kingdom stood at 5.1% in the three months to December, according to data released by the Office for National Statistics on Tuesday. The reading marks a 0.3 percentage point increase from the previous quarter, a rise of 1.3 percentage points year on year and is the highest since early 2016.

The employment rate was estimated at 75%, down by 1.5 percentage points compared to the same period in 2019. Meanwhile, there were 599,000 job vacancies in the November-to-January period, 64,000 more than in the previous quarter.

Average weekly earnings adjusted for price inflation rose by 3.3% on a yearly basis, while earnings in nominal terms increased by 4.1%. Including bonuses, average weekly earnings adjusted for inflation were also up by 3.8%, while nominal average weekly earnings climbed by 4.7%.

Breaking the News / NP