MNI DATA IMPACT: Employment Falls, But Wages Outpace Prices>

By Irene Prihoda and Les Commons

     LONDON (MNI) - Overall employment levels across the UK fell in 

August, recording the largest rolling 3-month decline since May 2015, 

data released Tuesday by the Office for National Statistics showed. 

The main points of note from the release follow:

     - Overall employment fell by 56,000 in August to 32.693 million. It 

was the biggest rolling 3-month decline since the fall of 65,000 in the 

3-months March to May 2015.

     - As employment levels fell, the overall employment rate fell to 

75.9% from the 76.1% seen in July. The fall in employment over the 

period fell disproportionately on women, with the employment rate 

falling to 71.6% from a comparable 72% in July.

     - According to the ONS, youth employment levels are starting to 

slow, with the numbers starting to fall on the year for the under-25s, 

falling 1.3% to 61.1%. It was the only age sector to show an annualised 

decrease.

     - Earnings remained buoyant in August, although a touch lower from 

July's revised levels. Both total and excluding-bonus numbers stood at a 

nominal 3.8% in the month.

     - Real earnings rose for the 18th consecutive month, with total 

real earnings slowing slightly to +1.9% on the month from +2.0% in July. 

Real earnings ex-bonuses, picked up slightly, hitting 2.0% after 1.9% in 

July.      

-London bureau: 44 (0) 203 865 3812; email: les.commons@marketnews.com 

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