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UK Payrolls up for 10th Straight Month in November

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Payrolls in the United Kingdom climbed by 257,000 in November, marking the 10th straight month of growth.

Source: Office for National Statistics

EWU is up 0.50% premarket.

There were 29.432 million payrolled employees in November, up by 0.3% from 29.174 million in October and 0.3% from the 28.975 million the same month in 2022. This is also 424,000 higher than the pre-COVID-19 level in February 2020.

The employment rate climbed by 0.2 percentage points to 75.5%. Part-time workers posted a steep decline due to the pandemic, but this has been increasing from April to June. The unemployment rate fell by 0.4 percentage points to 4.2%, while the inactivity rate fell by 0.1 percentage points to 21.2%.

Job vacancies from September to November stood at 1.219 million, up by 434,500 from the pre-COVID-19 level in January to March. Some 13 out of the 18 industry sectors posted record-highs, even as single-month vacancy estimates recorded their first reduction since February 2021.

Average total pay, including bonuses, grew by an average of 4.9% from August to October, with previous months affected upwards by the base and compositional effects.

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