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The Unemployment Rate In The UK Continues To Drop To 4.2%


In the three months ending in October, the unemployment rate calculated by the International Labor Organization (ILO) in the United Kingdom continued to drop to 4.2%, the lowest level in the past 16 months, and a decrease of 0.1 percentage point from the previous value, in line with market expectations. In the same period, the total employed population continued to increase by 149,000, which was the fifth consecutive month of increase. However, the increase was lower than the market's expected 225,000, and the previous value was an increase of 247,000. As for salary, the average weekly salary increase slowed to 4.9% year-on-year, which was higher than the market expected growth of 4.6%, and continued to slow down from the previous value of 5.9%. As for salary excluding bonuses, it increased by 4.3%, slightly higher than the 4% expected by the market. The previous value increased by 4.9%. Strong employment figures may help increase market confidence in economic recovery. However, dragged down by the rapid spread of the Omicron variant, the pound exchange rate continued to be under pressure.
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