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Economic News

UK wage growth eases, unemployment rate unchanged

By Michele Maatouk

Date: Tuesday 16 Jan 2024

LONDON (ShareCast) - (Sharecast News) - UK wage growth eased in the three months to November, while the unemployment rate was unchanged, according to figures released on Tuesday by the Office for National Statistics.
Total pay including bonuses rose 6.5%, down from 7.2% in the previous three-month period and in line with consensus expectations.

Meanwhile, the unemployment rate was unchanged at 4.2% in the three months to November and the ONS estimated that the number of payrolled employees in December fell by 24,000 to 30.2m from a revised November figure.

The ONS data showed that the number of vacancies fell by 49,000 in the three months to December to 934,000. This marked the 18th consecutive decline and the longest run of falls ever recorded.

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