BREAKING NEWS Fully-vaccinated people can gather without masks, CDC says Full Story

UK unemployment rises for first time since Brexit vote

Britain has registered its first rise in unemployment since the Brexit referendum in 2016.The increase in the ...

Posted: Feb 21, 2018 2:46 PM
Updated: Feb 21, 2018 2:46 PM

Britain has registered its first rise in unemployment since the Brexit referendum in 2016.

The increase in the jobless rate to 4.4% surprised economists, and the pound dropped by about 0.6% against the dollar as investors pondered whether the new data could delay the next rise in UK interest rates.

In the three months to December, 46,000 people were added to the unemployment tally, representing the biggest increase since early 2013. It took the total to 1.47 million.

Despite the rise, the unemployment rate remains just 0.1 percentage points above its lowest levels in decades.

Growth in the UK economy slowed last year, partly because of uncertainty over the outcome of negotiations on the future trade relationship with the European Union after Brexit takes effect in March 2019.

At the same time, British companies continue to create new jobs. There were 823,000 vacancies in the three months to January 2018, 70,000 more than at the same time last year.

"The significant number of unfilled vacancies means that the problem is more about not having the right workers available rather than the economy not creating enough jobs," said Yael Selfin, chief economist at KPMG in London.

Related: CNNMoney Brexit jobs tracker

The latest jobs report contained more bad news for British workers, confirming that living standards are still falling.

While inflation stood at 3% in December and January, wages grew by just 2.5%. That means workers are worse off than they were a year ago.

Economists have blamed the drop in real wages on Britain's decision to leave the EU. A slump in the value of the pound after the Brexit referendum pushed up the cost of imports.

Related: Brexit could still be a train wreck

Businesses are getting increasingly worried about the confusion surrounding Brexit and the lack of clarity about Britain's transition out of the EU, its biggest export market.

"I cannot stress enough the urgency with which we need clarity on any transition deal," Judith Hackitt, head of the UK manufacturing industry association EEF, said in a speech on Tuesday.

The worst case scenario, in which the UK drops out of the EU without a new trade deal, could cost the economy tens of thousands of jobs.

The financial sector could lose 75,000 jobs if there's no deal, according to consulting firm Oliver Wyman.

Japan warned last month that its banks, automakers and other companies could quit the U.K. if Brexit goes badly.

To add to the uncertainty felt by British consumers, Wednesday's jobs data showed there were 901,000 people working on so-called "zero-hours contracts," casual arrangements that allow employers to hire without guaranteeing hours of work. That's 20,000 more than in June 2017.

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 490011

Reported Deaths: 6618
CountyCasesDeaths
Hennepin1016821593
Ramsey43388811
Dakota36714394
Anoka33545392
Washington22247262
Stearns18847202
St. Louis14915265
Scott13445107
Wright12635116
Olmsted1187890
Sherburne879474
Carver790941
Clay696288
Rice678691
Blue Earth604435
Kandiyohi582274
Crow Wing523682
Chisago502945
Otter Tail487171
Benton451890
Winona419749
Mower411931
Douglas395068
Goodhue390169
Nobles387347
Polk345363
McLeod341950
Beltrami339151
Morrison328147
Itasca315346
Becker315143
Lyon314045
Isanti310056
Steele304311
Carlton300649
Freeborn287124
Pine283616
Nicollet263341
Todd250330
Brown249137
Le Sueur238620
Mille Lacs230047
Cass221424
Waseca211217
Meeker208534
Martin190829
Wabasha18733
Roseau181017
Hubbard161041
Houston158214
Dodge15464
Renville152940
Redwood147127
Fillmore14029
Pennington139816
Chippewa137035
Cottonwood136120
Wadena131520
Faribault125017
Aitkin119233
Sibley118310
Watonwan11838
Rock116314
Kanabec109120
Pipestone101924
Yellow Medicine97817
Murray9548
Jackson94710
Swift87818
Pope8185
Marshall78715
Stevens7478
Lake74318
Clearwater72014
Lac qui Parle68816
Wilkin67711
Koochiching62111
Big Stone5173
Lincoln5122
Grant4928
Norman4808
Unassigned45368
Mahnomen4437
Kittson41121
Red Lake3615
Traverse3115
Lake of the Woods2231
Cook1190

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 337836

Reported Deaths: 5500
CountyCasesDeaths
Polk52116562
Linn19519317
Scott17180213
Black Hawk14973294
Woodbury13858214
Johnson1317875
Dubuque12452196
Dallas1023593
Pottawattamie9899146
Story965445
Warren515176
Clinton502884
Cerro Gordo501483
Webster495888
Sioux480469
Marshall465473
Des Moines428661
Muscatine426493
Buena Vista413337
Wapello4059110
Jasper388167
Plymouth369178
Lee354653
Marion341772
Jones285355
Henry279837
Bremer270655
Carroll266848
Crawford253435
Boone244830
Benton241554
Washington239247
Mahaska215846
Jackson210339
Dickinson204340
Tama203165
Kossuth198655
Delaware186340
Clay184525
Winneshiek183729
Fayette179535
Page178119
Buchanan178029
Wright174531
Hamilton173942
Cedar172923
Hardin170339
Harrison167870
Clayton160154
Butler159331
Mills148520
Floyd148141
Poweshiek148030
Cherokee146336
Lyon145741
Allamakee144948
Madison143318
Iowa140723
Hancock138030
Grundy132530
Winnebago130531
Calhoun129711
Cass129751
Jefferson128534
Appanoose123447
Louisa122644
Mitchell120740
Chickasaw119915
Union119331
Sac118818
Shelby117634
Emmet115440
Humboldt113925
Franklin109719
Guthrie109728
Palo Alto101721
Howard99722
Unassigned9790
Montgomery97036
Clarke95220
Keokuk92429
Monroe90028
Ida82132
Adair81630
Pocahontas80919
Davis76623
Monona76527
Greene73110
Lucas72321
Osceola68315
Worth6678
Taylor64112
Decatur5719
Fremont5619
Van Buren53818
Ringgold50720
Audubon4769
Wayne47521
Adams3194
Rochester/St. Mary'S
Clear
50° wxIcon
Hi: 54° Lo: 33°
Feels Like: 50°
Mason City
Clear
53° wxIcon
Hi: 61° Lo: 34°
Feels Like: 53°
Albert Lea
Partly Cloudy
50° wxIcon
Hi: 58° Lo: 36°
Feels Like: 50°
Austin
Partly Cloudy
52° wxIcon
Hi: 57° Lo: 32°
Feels Like: 52°
Charles City
Partly Cloudy
54° wxIcon
Hi: 59° Lo: 34°
Feels Like: 54°
Kicking off the workweek with warmer temperatures
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

Sean's Weather 3/8

Image

Rochester NAACP President calls for accountability

Image

Rochester's Diversity Council talks racial inequality

Image

Mary Kristin Scott PKG

Image

Tailgate service

Image

Fewer babies being born

Image

Sara's Sunday Night Forecast

Image

Blooming Prairie GBB PKG

Image

Sara's Saturday Night Forecast

Image

Olmsted County Fair asks for help from lawmakers

Community Events