Number of Workers Drop But UK Wages Are Rising

The number of people in work in Britain fell for a second time in a row in the three months to November, official data showed on Wednesday, a latest suggestion that the Brexit vote may be making employers nervous about hiring.

Reflecting the largely resilient picture in Britain’s labour market since the shock decision to leave the European Union last year, the unemployment rate held at an 11-year low of 4.8 percent, in line with the median forecast in a Reuters poll of economists.

The employment rate held at all-time record high of 74.5 percent and wage growth picked up pace.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.