Unemployment in UK Increases to 3.7% from September to November
Statistical Office Reports Quarter on Quarter Increase in Unemployment Rate Despite Steady Employment Rate
The National Statistics Office (ONS) reported on Tuesday that although the proportion of people of working age who are unemployed had increased by 3.5% during the previous quarter, the rate of employment remained virtually unchanged at 75.6%.
Darren Morgan, the ONS Director of Economic Statistics, also informed that a drop in job vacancies had been detected but these remained at ‘very high levels’. He added that in addition to lower wages, there is ‘faster price rises than income growth.’
The statistics office’s report stated that between September and November of last year, salaries had risen by 6.4%, the fastest growth since 2000. This has been credited to citizens who were able to receive large increases on returning to work.
Overall, the past quarter has highlighted a growth in unemployment rate accompanied with an unchanged employment rate and faster price rises.