UK Jobs Boom Cools Ahead Of Brexit As Employment Falls By Most In Over Four Years

www.oann.com | 10/15/2019 | Staff
jolan (Posted by) Level 3
LONDON, (Reuters) – Britain’s jobs boom weakened in the three months to August as the approach of Brexit led to the biggest fall in employment in over four years, data showed on Tuesday.

The number of people in employment unexpectedly fell by 56,000 32.69 million, the Office for National Statistics said.

Economists - Reuters - Employment

Economists polled by Reuters had expected employment to grow by 23,000.

The number of people out of work rose by 22,000 to just over 1.31 million, the ONS said.

ONS - Earnings - Growth - Bonuses - %

The ONS also said total earnings growth, including bonuses, rose by an annual 3.8% in the three months to August, slowing from a rise of 3.9% in the three months to July which was the strongest increase since 2008.

The rise in total pay in the June-August period was weaker than the median forecast of 4.0% in the Reuters poll.

Bonuses - Volatility - Growth - % - Reuters

Excluding bonuses, which smooths out some volatility, pay growth slowed slightly to 3.8%, a touch ahead of the Reuters poll forecast of 3.7%.

“The employment rate is still rising year-on-year, but this growth has cooled noticeably in recent months,” ONS statistician Matt Hughes said. “Among the under-25s, the employment rate has actually started to fall on the year.”

Britain - Economy - Quarter - July

Britain’s economy contracted in the second quarter but appears to have grown between July and...
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