• Home
  • /
  • Posts
  • /
  • News
  • /
  • UK jobless rate rises again but pay growth keeps Bank of England on edge

UK jobless rate rises again but pay growth keeps Bank of England on edge

Britain's jobless rate rose for a second month and there were other signs in data on Tuesday that some of the inflationary heat in the labour market is cooling as the economy stumbles, including an increase in older people looking for work.

by | 13 Dec, 2022

But the Bank of England (BoE) – which looks set to raise interest rates for the ninth consecutive meeting on Thursday – was likely to note the strongest rise in basic pay on record, not including the period around the COVID-19 pandemic.

Sterling briefly rose against the U.S. dollar and the euro after the figures were published by the Office for National Statistics (ONS), before falling back.

The unemployment rate increased to 3.7% in the three months to October from 3.6% in the three months to September. Vacancies in the September-to-November period fell on an annual basis for the first time since early 2021 when Britain was under lockdown.

Shared from Reuters

More from Financial Accountant

How the UK’s rollback of banking regulations could risk another financial crisis

How the UK’s rollback of banking regulations could risk another financial crisis

Money laundering plays a key role in every part of the illegal drugs industry. Here’s how it works

Money laundering plays a key role in every part of the illegal drugs industry. Here’s how it works

‘I’ve never paid myself’: why the reality for female entrepreneurs doesn’t always match the rhetoric

‘I’ve never paid myself’: why the reality for female entrepreneurs doesn’t always match the rhetoric

Sustainability ideals are often crushed by corporate demands. Here’s how businesses can let them flourish

Sustainability ideals are often crushed by corporate demands. Here’s how businesses can let them flourish

‘I was left with nothing.’ Why apprentices are being pushed into the informal economy

‘I was left with nothing.’ Why apprentices are being pushed into the informal economy

In the struggle to get Britain working, the long shadow of austerity could be part of the problem

In the struggle to get Britain working, the long shadow of austerity could be part of the problem

Share This