- Prior -43.3k
- December ILO unemployment rate 4.1%
- Prior 4.1%
- December employment change -38k
- Prior 60k
- December average weekly earnings +4.3% 3m/y
- Prior +4.2%
- December average weekly earnings (ex bonus) +3.7% 3m/y
- Prior +3.8%
The number of payrolled employees in the UK increased by 0.4% in January, or equivalent to 108,000 persons. Meanwhile, the jobless rate keeps steady at 4.1% and that reaffirms more solid labour market conditions through to year-end in 2021. A small detail that may be overlooked is that output per hour worked in Q4 last year was 2.3% above levels recorded before the pandemic. That might point to some productivity gains but we'll see if the trend keeps up this year.
