United Kingdom rate in unemployment rises for first time in two years


The 0.1% increase didn't halt the total number of people in employment, however, with the figure rising to 88,000.

UK ILO unemployment rate rose by 0.1 percentage points to 4.4 percent in three months to December, data from the Office for National Statistics showed Wednesday.

Rising employment in 2017 was driven by United Kingdom nationals, the ONS said.

The Bank of England is anticipating a pick-up in wage growth soon - a key reason why it recently signalled that interest rates were likely to rise faster and to a greater extent than previously thought.

The quarterly rise was the biggest since early 2013, although unemployment is 123,000 lower than a year ago, according to the Office for National Statistics (ONS).

Unemployment has increased by the biggest amount in nearly five years, while earnings continue to grow more slowly than prices, new figures reveal.

Average earnings increased by 2.5% in the year to December, unchanged from the previous month.

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Unemployment in Britain has risen for the first time since the aftermath of the country's June 2016 vote to leave the European Union, official figures showed Wednesday, a development that could alter market expectations of another interest rate increase from the Bank of England in May. The number of persons registered as jobless with the Labor and Welfare administration witnessed a fall of 4,000 persons in December from September average of August - October.

The ONS attributed a rise in unemployment to fewer economically inactive people - those neither working nor looking for a job.

Separate figures showed that Britain's government recorded a January budget surplus of 10 billion pounds (about $14 billion), slightly bigger than forecast, helped by a surge of income tax receipts that typically comes at the start of the calendar year.

But TUC general secretary Frances O'Grady said the continued squeeze on real terms pay was "pushing families to the brink".

"Earnings continue to grow more slowly than prices".

Economist Ruth Gregory at Capital Economics said it was a "strong set of labour market figures should dispel concerns that the recent weakness was a sign of things to come".