UK wages continue to surge as Bank of England set to decide on interest rates Economics UK unemployment remained steady over the last three months as wage growth surged over the quarter to October. Unemployment was unchanged at 4.3 per cent for the second straight month during October, data from the Office for National Statistics revealed. The number of people claiming jobless benefits climbed by just 300 in November, beating the [...]
It’s not as easy to count the number of ‘working people’ as you might think Opinion How many people are employed in the UK today? This is not just a question in a pub quiz for boffins. It is one with important practical implications. Changes in the number of people employed is a key piece of information which the Bank of England’s Monetary Policy Committee takes into account when setting interest [...]
Jobs market gets Christmas boost from seasonal hiring Economics In October, there were 0.64 per cent more vacancies than there were six months ago, the first time the six-monthly reading has been positive in 2024.
Wage growth comes in ahead of expectations despite loosening labour market November 12, 2024 Bank of England rate-setters received a mixed picture from the latest labour market figures, with progress on wage growth stalling even as unemployment crept up. According to the Office for National Statistics (ONS), pay growth excluding bonuses eased to 4.8 per cent in the three months to September, down from 4.9 per cent previously but [...]
Is Gen Z really a risk to businesses? October 17, 2024 A lazy, entitled and narcissistic generation, more interested in TikTok than hard work. The stereotypes about Gen Z have, apparently, become so pervasive that managing a young workforce is now considered the biggest business threat by CEOs. Just 38 per cent of executives are “very confident” in tackling demands for better pay and benefits from [...]
Despite falling unemployment, a November rate cut looks almost certain October 15, 2024 The figures showed that regular pay growth was at its lowest level since June 2022 while pay growth including bonuses dropped to its lowest level since November 2020.
Wage growth eases again in boost for rate cut hopes October 15, 2024 Strong wage growth has been a concern for policymakers at the Bank of England due to fears that it could keep cost pressures elevated, particularly in the labour-intensive services sector.
A ‘New Deal’ for fewer jobs and worse pay? October 8, 2024 Labour’s promise of a ‘New Deal for Working People’ is deliberately worded to evoke the era of Roosevelt, when major federal interventions supposedly shook America out of the Great Depression and conclusively demonstrated the benefits of Keynesian economics. But even Keynes knew it was more complicated than this. Alongside stimulus, he wrote that reversing a [...]
Growing labour market slack ‘strengthens case for further rate cuts’ October 7, 2024 "A greater number of candidates and reduced demand helped to limit pay growth," the survey said.
Bank of England survey suggests progress on inflation might be slowing October 3, 2024 The Bank's own decision maker panel (DMP), which surveys business leaders around the country, showed that wage and price pressures were more stubborn than anticipated last month.