Job numbers slip back as pay squeeze continues

Cornelia Mascio
Dicembre 13, 2017

There are just over 32 million people in employment, but the 56,000 reduction between August and October is the largest since the three months to May 2015, the Office for National Statistics (ONS) said.

Some 1.4 million people were unemployed at the end of October.

Average earnings increased by 2.5 per cent on past year - meaning that the median worker is seeing a pay cut. The fall in jobs since May - the biggest quarterly drop in two years - is nearly all among full-time men.

Job vacancies were up by 14,000 to a record 798,000.

ONS statistician Matt Hughes said: 'Employment stayed close to its record high and, while up on a year ago, declined compared with the previous three months.

"Unemployment also fell, but there was a rise in the number of people who were neither working nor looking for a job".

That means that while earnings growth may be picking up, it is still lagging inflation and United Kingdom workers are seeing their real wages continuing to decline.

The pound rose against the dollar as the data also showed unemployment in the United Kingdom remained flat at 4.3 per cent in the three months to October, against expectations of a fall to 4.2 per cent.

Unemployment stands at 1.4million after falling yet again.

Employment Minister Damian Hinds said: "We're ending the year on a strong note, with figures showing the unemployment rate has fallen every month in 2017".

United Kingdom unemployment rate stays at joint record low of 4.3%, with 26,000 fewer people out of work.

"Universal Credit is helping people get into work quicker, and ensuring they get more money in their pockets for every hour they work".

The number of people claiming unemployment benefits edged up in October as growth in the jobs market slowed.

But experts warned that the size of the labour force is shrinking, with a rise in the number of Brits giving up on work altogether.

Shadow work and pensions secretary Debbie Abrahams said: 'Today's figures are further evidence of Tory economic failure, only a day after inflation rose to its highest level in over five-and-half years.

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE