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U.S.Economy: 
UK Unemployment Rises in October
Author: 123jump.com Staff
123jump.com
Last Update: 8:32 AM ET November 12 2008


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The unemployment rate was 5.8%, up 0.4 percentage points from the previous quarter. The number of unemployed people increased by 140,000 over the quarter.

 
The working age economic inactivity rate was 20.9 per cent in the three months to September 2008, unchanged on the three months to June 2008 but down 0.2 percentage points from a year earlier. The number of economically inactive people of working age increased by 15,000 over the quarter but fell by 54,000 over the year to reach 7.89 million in the three months to September 2008.

GB average earnings

In the three months to September 2008 whole economy average earnings, excluding bonuses, rose by 3.6 per cent on a year earlier. This is unchanged from the three months to August 2008. Including bonuses, the annual growth rate was 3.3 per cent, down from 3.4 per cent in the previous period. Corresponding annual growth rates for the main industrial categories were:

Manufacturing

2.5 per cent excluding bonuses, down 0.2 percentage points;
2.9 per cent including bonuses, up 0.2 percentage points.

Services

3.8 per cent excluding bonuses, unchanged;
3.5 per cent including bonuses, down 0.2 percentage points.

Public sector

3.9 per cent excluding bonuses, up 0.2 percentage points;
3.9 per cent including bonuses, up 0.4 percentage points.

Private sector

3.6 per cent excluding bonuses, unchanged;
3.1 per cent including bonuses, down 0.3 percentage points.
Productivity and unit wage costs

Whole economy productivity was 0.2 per cent higher in the second quarter of 2008 compared with a year earlier. Whole economy unit wage costs rose by 2.4 per cent over the same period
.
Manufacturing productivity rose by 0.2 per cent in the three months to September 2008 compared with a year earlier. Manufacturing unit wage costs increased by 2.7 per cent over the same period.

Labour disputes

In September 2008, there were 68,000 working days lost due to labour disputes. In the twelve months to September 2008, there were 1.16 million working days lost.

Available at:


http://www.statistics.gov.uk/pdfdir/lmsuk1108.pdf
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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