Survey: UK labour market: February 2018

Average weekly earnings in real terms (adjusted for price inflation) fell by 0.3 per cent both including and excluding bonuses compared with a year earlier, according to the latest labour market figures from the Office for National Statistics (ONS).

Key findings:

• Latest estimates show that average weekly earnings in nominal terms (not adjusted for price inflation) increased by 2.5 per cent both including and excluding bonuses, compared with a year earlier.
• The number of people in work and the number of unemployed people both increased, but the number of people aged from 16 to 64 not working and not seeking or available to work decreased.
• The employment rate (the proportion of people aged from 16 to 64 who were in work) was 75.2 per cent, higher than for a year earlier (74.6 per cent).
• There were 901,000 people in employment on ‘zero-hours contracts’ in their main job, little changed compared with a year earlier.

These ONS figures relate to the period between July to September 2017 and October to December 2017.