The labor market continues to be the agitating sector for the recovery across economies and for UK the situation is not any different, as the recovery remains sluggish and volatile.
Labor market conditions remained fragile in December though with a shimmer of hope with higher decline in unemployment benefits. In December Jobless Claims Changed improved with lowed claimed benefits, where it fell by 4.1 thousand compared to the decline in unemployment by 1.2 thousand in November revised today to the upside to 3.2 thousand; while the Claimant Count Rate remained steady as expected at 4.5%.
ILO Unemployment in the three months to November remained steady as expected slightly shy from 10.0% at 7.9% in November.
Average Weekly Earnings in the three months to November fell slightly to 2.1% inline with revised previous from the originally reported and expected 2.2% rise; excluding bonuses remained unchanged at 2.3% as expected.