Economists warn employment growth is likely to remain subdued while the uncertainty surrounding Brexit lingers
LONDON—Official figures show Britain’s unemployment rate at an 11-year low despite signs of slowing employment growth.
The Office of National Statistics reported Nov. 16 that the unemployment rate fell 0.1 percentage people in the quarter through September to 4.8 per cent, its lowest rate since the same period in 2005. It said 1.6 million people were out of work, down 37,000.
However, agency statistician, David Freeman, says there are signs of “employment growth slowing.”
The agency also says there is limited evidence to suggest that Britain’s vote in June to leave the European Union has yet had much of an impact on the number of EU workers in the U.K.
Chris Williamson, chief business economist at IHS Markit, says “employment growth is likely to remain subdued while the uncertainty surrounding Brexit lingers.”