UK unemployment rises to levels last seen in late 2021. Average earnings touted as key by the BOE smashed estimates and is likely to add pressure on the Central Bank to keep its foot on the rate hike pedal.
pandemic levels. The increase in unemployment was driven by people unemployed for up to 6 months. In the latest quarter, the number of people unemployed for up to 6 months increased, with the largest increase since August to October 2022. This suggests that it is taking longer for those leaving economic inactivity to find work than in recent periods.in regular pay was 7.8%; this is the highest regular annual growth rate since comparable records began in 2001. Average earnings incl.
There is no denying the UK economy has remained resilience for the large part, however today’s data will give the Bank of England a massive headache. We have seen a bigger than expected drop-off in unemployment, but the Central Bank had stressed prior to the release that the average earnings figure would be crucial. Given the massive beat in average earnings it is unlikely that the BoE will be able to take its foot of the pedal in terms of rate hikes, at least not yet.
The Bank of England did leave the door open to further interest rate hikes and I think it is something they will have to act on following today’s data releases. We obviously have CPI data tomorrow with any print above or in line forecast likely to cement another rate hike in September.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Average San Diego County gas price rises for 21st day in a row -SAN DIEGO (CNS) – The average price of a gallon of self-serve regular gasoline in San Diego County rose Monday for the 21st consecutive day, increasing four-tenths of a cent to $5.205. The average price has increased 25.6 cents over the past 21 days, including 1.1 cents Sunday, after dropping 1.3 cents over the preceding week, according to figures from...
Consulte Mais informação »
GBP/USD struggles to justify hawkish BoE concerns around 1.2700, UK inflation, FOMC Minutes in focusGBP/USD struggles to justify hawkish BoE concerns around 1.2700, UK inflation, FOMC Minutes in focus – by anilpanchal7 GBPUSD Fed BOE Inflation Employment
Consulte Mais informação »
Pound Sterling sets for breakdown as hawkish BoE bets soarThe Pound Sterling (GBP) looks vulnerable as upbeat Q2 Gross Domestic Product (GDP) and factory data for June fail to provide strength. The GBP/USD pa
Consulte Mais informação »
UK Employment Preview: Good news could be bad news for the BoEIn case you missed it... 💼 UK Employment Preview➡️ 💰 Gold Price Forecast➡️ 📊 Bitcoin ETF potential approval could come close to BTC halving➡️ Forex Crypto
Consulte Mais informação »
UK Employment Preview: Good news could be bad news for the BoEIn case you missed it... 💼 UK Employment Preview 👉 💰 $XAUUSD hangs near multi-week low 👉 📊 China’s Retail Sales and Industrial Production ease 👉 Forex Commodities
Consulte Mais informação »
Food stamps: All Maine recipients will receive monthly payments worth average of $168 by MondayThe food stamps program in Maine has distributed all payments to eligible residents for the month of August. The final round of payments was sent on Monday.
Consulte Mais informação »