Bank of England expected to leave interest rates on hold; UK unemployment falls – business live
Rolling coverage of the latest economic and financial newsUK wage growth was stronger than expected in the three months to April, this morning’s labour market data shows.Basic pay (which excludes bonuses) rose by 3.4% year-on-year in the quarter, while total pay (including bonuses) rose by 4.4%; both measures were unchanged compared with a month earlier.“The labour market remained broadly stable in the latest quarter, with further softening evident in some measures. Payroll numbers continued to
Bank of England expected to leave interest rates on hold; UK unemployment falls – business live
Overview
Rolling coverage of the latest economic and financial news
UK wage growth was stronger than expected in the three months to April, this morning’s labour market data shows.
Basic pay (which excludes bonuses) rose by 3.4% year-on-year in the quarter, while total pay (including bonuses) rose by 4.4%; both measures were unchanged compared with a month earlier.
Details
“The labour market remained broadly stable in the latest quarter, with further softening evident in some measures. Payroll numbers continued to fall over this period, with new recruits at their lowest level in five years. However, overall employment was little changed, with some signs of workers moving into self‑employment.
“Vacancies also continued to fall, further suggesting that firms are becoming more cautious about taking on new staff. The decline has been most persistent among lower‑paying sectors and smaller employers, although the largest fall this quarter was in professional services.
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Originally published at www.theguardian.com.
