The rate of UK unemployment remained unchanged at 4.2% in the three months to November, the Office for National Statistics said
The number of job vacancies fell by 49,000 over the three months to December to 934,000, marking the 18th period in a row that openings have fallen and the longest run of falls ever recorded.
Meanwhile UK average regular earnings growth eased back to 6.6% in the three months to November and lifted 1.4% after taking Consumer Prices Index inflation into account
It is the lowest rate since the three months to January last year.
Ben Harrison, Director of the Work Foundation at Lancaster University, a leading think tank for improving working lives in the UK days that Today’s figures point to a mixed picture in the UK labour market with slowing pay growth and vacancies falling for the 18th consecutive quarter.
“Pay growth is on a downward trajectory from record highs late last year and is following the trend of falling inflation. While some workers may be seeing modest pay gains in their real pay, future gains may be reliant on inflation continuing to fall.
“While policy-makers at the Bank of England may be reassured by these figures as they assess whether to adjust interest rate levels, workers in insecure and low paid work are at the sharp end of the most significant reduction in real living standards since ONS records began as they try to make ends meet.
“Addressing this challenge will be a key battleground in the next General Election. Although 934,000 vacancies remain in the economy, policies which only focus on increasing benefit sanctions to push those out of work to take on new roles risk making matters worse. Instead, all political parties need to make clear how they will improve access to higher quality and more secure employment, while providing more tailored support for jobseekers with different needs.”
