UK employment falls for first time in nearly a year

Markets Associated Press

Official figures show that employment in Britain fell for the first time in nearly a year, a sign that the economic slowdown is starting to affect the labor market.

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The Office for National Statistics said Wednesday that employment in the three months to September declined by 14,000 from the previous quarter to just above 32 million. That was the first fall in employment since October last year and suggests the growth slowdown is affecting firms' hiring.

The statistics agency also said that unemployment fell over the same period, by 59,000 to 1.425 million and said that could be due to a fall in those neither working nor looking for work. The unemployment rate was unchanged at 4.3 percent.

It also said wages remained subdued and below inflation.