Falling unemployment and solid wage growth bring consumer cheerContributors Michael J. Bell, Global Markets Insights Strategy Team
Unemployment continues to fall
The UK labour market continued to show signs of improvement according to the latest employment report released today. The unemployment rate fell to 5.3% in the three months to September, down from 5.4% in three months to August. The number of people in employment increased by 177,000 in the third quarter and has increased by 419,000 over the last year. The number of people between 16 and 64 who are not working or seeking work declined by 22,000 over the quarter, and by 62,000 over the year, to 8.97 million (or 22%)—which is the lowest level since 1991.
Record UK employment
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