Data published by the Office for National Statistics showed that in November the unemployment rate fell by 0.1%, to 4.1%. Economists had expected unemployment to remain at 4.2%. Meanwhile, the level of economic inactivity increased to 21.3%.
The ONS also reported that in December the number of employees increased by 184,000 compared to November, and amounted to 29.5 million. Compared to February 2020 (before the coronavirus), the number of employees increased by 409,000.
The employment rate in September-November increased by 0.2%, to 75.5%. The number of part-time workers has also increased over the last three-month period.
The number of vacancies from October to December rose to a new record high of 1,247,000, which was 462,000 higher than the level before the coronavirus.
Meanwhile, from September to November, the average earnings increased by 4.2%, and the growth of average earnings ex bonuses increased by 3.8%. In real terms (adjusted for inflation), total and regular earnings increased by 0.4% and 0.0%, respectively.