Raymond Doherty 15 Oct 2019 11:23am

UK jobs market slowing down

The number of people out of work in the UK rose by 22,000 to just over 1.31 million, according to the Office for National Statistics (ONS)

In addition, the number of people in employment unexpectedly fell by 56,000 to 32.69 million, as the Brexit deadline looms on 31 October.

“The employment rate is still rising year-on-year, but this growth has cooled noticeably in recent months. Among the under-25s, the employment rate has actually started to fall on the year,” said ONS deputy head of labour market statistics Matt Hughes.

“Pay growth continues to outstrip inflation, as it has done for over 18 months now.

The ONS said annual earnings growth dipped to 3.8% in the three months to August, slightly down from an 11-year high of 3.9% in the three months to July.

“UK labour market looking markedly softer with employment falling 56,000 (most for over for years) and vacancies down again,” tweeted Howard Archer of the EY Item Club.