UK unemployment unchanged at 5.1% as regular wage growth slows

The UK unemployment rate stayed the same in the three months to November, numbers on Tuesday showed, while regular earnings growth slowed.

According to the Office for National Statistics, the jobless rate was 5.1% in the three months to November, unchanged from 5.1% in the three months to October.

This came slightly above the FXStreet-cited market consensus, which had pencilled in a slight fall in unemployment to 5.0%.

The ONS said payrolled employees in the UK fell by 155,000, or 0.5%, on-year in November, and fell by 33,000, or 0.1%, on-month.

In the three-month period to November, the number of payrolled employees fell by 135,000, or 0.4% over the year, and by 43,000, or 0.1%, over the quarter.

The early estimate of payrolled employees for December decreased by 184,000, or 0.6%, on the year, and by 43,000, or 0.1%, on the month to 30.2 million. The ONS noted that this estimate is likely to be revised with more data next month.

The UK employment rate for people aged 16 to 64 was estimated at 75.1% in the three months to November, which is unchanged in the latest quarter but above estimates for a year ago.

The economy inactivity rate for people aged 16 to 64 years was estimated at 20.8% in the three months to November, down in the latest quarter and below estimates of a year ago, the ONS said.

Annual growth in regular earnings, excluding bonuses, was 4.5% in the three months to November, slowing from 4.6% in the three months to October.

Including bonuses, total earnings growth was 4.7%, unchanged from the previous period and above FXStreet-cited forecasts of 4.6%.

Both are above the UK consumer price inflation rate of 3.2% in November.