UK employment reaches a record high

The recent UK employment figures reflect a positive labour market. Between October and December 2018, 32.6m were documented to be in work. Resulting in a 75.8% employment rate. The UK hasn’t seen figures as high as this since the early 1970s.


Office for National Statistics: Labour market statistics time series (LMS
)

The number of jobless UK adults fell to 1.36 m at a rate of just 4% this is the lowest the UK has seen since 1975.


Office for National Statistics: Labour market statistics time series (LMS
)

UK Total earning which included bonuses increased by an annual 3.4 % in the three months leading up to December 2018. This is well ahead of UK inflation which fell to 2.3% in November resulting in the average UK worker’s pay increasing by 1.1% in real terms. The average UK weekly earnings, excluding bonuses, increased by 3.4% in 2018, the largest rise since July 2008.

These figures have defied a slowdown in the economy following the Brexit vote in June 2016.

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