–Dec Claimant Count Unemployment +1,200 m/m; Rate 5%
LONDON (MNI) – Claimant count unemployment rose only slightly in
December suggesting the labour market has not deteriorated as badly as
most economists expected, figures released by National Statistics
Wednesday.
The claimant count rose 1,200 between November and December, less
than the median for a 9,000 rise. There was also a downward revision to
November which now shows just a 200 increase in contrast to the increase
of 3,000 published previsouly.
Most headlines will highlight the fact that the ‘official’ ILO
measure of unemployment was up 118,000 in Sep-Nov 2011 compared
with the previous three month period, hitting its highest level since
1994.
Most of this rise, though, we already knew about and it is likely
that the gains in ILO unemployment will ease over the coming months in
line with the claimant count figures.
National Statistics said that for the last comparable quarter the
changes in the claimant count and ILO measure of unemployment had moved
“quite closely” together.
While the claimant count has managed to remain broadly stable over
the past three months it is difficult to be optimistic about the outlook
given the slowdown in growth likely to be seen in Q4 and the continued
turmoil in Europe.
Earnings growth remained subdued with headline Average Weekly
Earnings falling to 1.9% in November from 2.1% in October, a little
below the median forecast of 2%.
Excluding bonuses, headline growth in regular pay rose to 1.9% from
1.8%, in line with the median forecast.
–London bureau: 00 44 207 862 7491 e:mail: drobinson@marketnews.com
[TOPICS: MABDA$,M$B$$$,MT$$$$,MABDS$]
