Labour Market Weakens in Q3.................>

UK DATA: Labour Market Weakens in Q3

-UK Q3 Employment -58,000 vs -56,000 June-Aug

-UK Q2 LFS Jobless Rate 3.8% vs 3.9% June-Aug

-UK Sept jobless rate 4.0% vs 3.8% in Aug (experimental statistic)

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The UK's booming jobs market appears to be weakening dramatically, with 

employment falling another 58,000 in the second quarter, the biggest 

decline since the three months to May 2015. That follows a 56,000 

decrease between June and August. Vacancies slumped by 53,000 over Q3  

2018, the biggest annual fall since late 2009, to 800,000, the lowest 

level since mid 2017. Part-time time roles declined by 100,000, 

suggesting the precarious nature of employment for many workers. Members 

of the Bank of England's Monetary Policy Committee acknowledged the 

weakening labour market at their November rate-setting meeting, but 

forecast a resumption of job growth by year end.