2023-03-14 03:18:53 ET
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The unemployment rate in the UK came in at 3.7% in November 2022 to January 2023, largely unchanged compared with the previous three-month period.
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The figure is slightly below market consensus of 3.8%. It remained also 0.3 percentage points below pre-pandemic levels.
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The number of unemployed people rose by 5K to 1.25M, while employment levels increased by 65K to 32.84M, driven by part-time employees and self-employed workers.
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Total pay growth eased to 5.7%Y/Y in the three months to January, while in real terms, wages dropped by 3.2%, the largest decline since the February to April 2009 period.
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UK unemployment rate unchanged at 3.7%, slightly better than forecast