Aug-Oct LFS unemployment -26,000 q/q; rate..>

UK DATA: Aug-Oct LFS unemployment -26,000 q/q; rate steady at 4.3%

-UK Aug-Oct employment -56,000 q/q; rate at 75.1%

-UK Aug-Oct total AWE +2.5% 3m y/y vs +2.3% 3m to Sep

-UK Aug-Oct regular AWE +2.3% 3m y/y; vs 2.2% 3m to Sep

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The labour market data showed employment posting its largest fall since 

March-May 2015 while job vacancies rose 14,000 to hit a record high. 

Private sector surveys have highlighted the problems employers are 

finding with skills shortages, and these official data suggest a lot of 

jobs openings are not being filled. There was a slight pick-up in 

earnings growth, with total average weekly earnings at 2.5% 3m on the 

year from 2.3%. With the unemployment rate at 4.3%, below the Bank of 

England estimate of the equilibrium rate of 4.5%, pay pressures may be 

intensifying.