UK jobless rate at 10-year low but wage growth slows

Posted on January 20, 2016

The UK unemployment rate has fallen to its lowest rate in more than a decade but wage growth has slowed.

The rate hit 5.1% in the three months to November – its lowest rate since the three months to October 2005, according to the Office for National Statistics.

The number of people out of work fell by 99,000 to 1.68 million in the three-month period.

Average weekly earnings, including bonuses, were up 2%, the slowest increase since February.

The 2% growth in wages was below the 2.1% growth forecast in a Reuters survey.

Excluding bonuses, average weekly earnings growth slowed to 1.9% in the three months, the ONS said.

The figures show that the employment rate hit 74% – the highest since comparable records began in 1971.