The UK jobless rate remained flat in the three months to the end of October, while growth in average earnings picked up a bit.

The Office for National Statistics reported that unemployment in the three months to the end of October remained unchanged at 4.3%, compared to the three months to the end of September.

Over the same time, annual growth in average earnings including bonuses picked up to 5.2% from 4.4%, easily beating the FXStreet-cited consensus of 4.6%.

Average earnings growth excluding bonus increased to 5.2% from 4.9%, outperforming the consensus of 5.0%.

Lindsay James, investment strategist at Quilter Investors, said that the data ‘reflects a labour market that is not yet budging under the strain of the economic headwinds it’s facing.’

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