Unemployment remains steady in the UK

The Office for National Statistics (ONS) released the labor market data for the September-November 2023 period.

Accordingly, the unemployment rate, set at 4.2% for this period, showed no change from the previous quarter.

During this period, the annual increase in regular wages, excluding bonuses, was 6.6%, while the total wage growth, including bonuses, was calculated at 6.5%.

The growth adjusted for inflation was 1.3% in total wages.

In November, due to strikes, there was a loss of 69,000 working days in the country. This number was recorded as the lowest loss of working days due to strikes since May 2022.

Liz McKeown, Director of Economic Statistics at ONS, in her assessment of the data, stated that the overall picture of the labor market showed no variability, noting that the annual wage growth remained high and wage pressures eased.